The Centuria Healthcare Property Fund is an open-ended unlisted property fund that invests in healthcare and aged care assets, managed by Centuria Property Funds.
The Fund provides an attractive risk/return profile in the healthcare sector, which has provided a high level of resilience through economic cycles. Since the Fund was launched in September 2020, it has established a portfolio of ~$350M of healthcare and aged care properties. Key features of the Fund include:
- A diversified portfolio of 16 properties, primarily across NSW, VIC, QLD and WA.
- Portfolio occupancy of 99%, with a long Weighted Average Lease Expiry (WALE) of 11.5 years.
- Currently around 60% of income is through tenants providing hospital / surgery / mental health services.
- The Fund has delivered a total return of 7.7% p.a. and an average distribution yield of 5.9% p.a since inception.
- The Manager is targeting FY22 distributions of 5.50 cpu (annualised) with distributions paid monthly.
- The Fund offers a quarterly withdrawal facility with no Buy/Sell Spread.
The Manager is targeting continued growth for the Fund, through acquisitions to further increase scale and diversification for investors.
Core Property has rated the Fund as RECOMMENDED.