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Elanor Healthcare Real Estate Fund

Open-ended healthcare property fund targeting growth

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Core Property has again reviewed the Elanor Healthcare Real Estate Fund, a growing multi-asset unlisted property fund managed by Elanor Funds Management Limited.

The Fund provides an opportunity to invest in a sector with strong tailwinds through a portfolio of healthcare properties which provide relatively secure income. The portfolio includes medical centres, diagnostic facilities, day surgeries and specialist treatment facilities.

The Fund has performed well since its inception in March 2020 with the unit price growing from $1.00 to $1.15 following positive revaluations, whilst also delivering an average distribution of 7.3 cents per unit (annualised) to investors.
 
The Fund is now acquiring the Highpoint Health Hub in Ashgrove, Brisbane QLD. The acquisition will expand the portfolio to six properties valued at $267.5M, with 95% occupancy and a Weighted Average Lease Expiry of 4.3 years. The Manager intends to continue acquiring additional properties to grow the portfolio ahead of a liquidity event that can deliver a portfolio premium, via either a portfolio sale, recapitalisation or ASX listing.

The Manager is seeking to raise $28.6M through the issue of 24.9M units at $1.15 per unit. Distributions are forecast to be 7.3 cents per unit (annualised) for FY22.

The Offer is available to wholesale and sophisticated investors only, and is open to existing investors as well as new investors.

Core Property continues to rate the Fund as RECOMMENDED.

Core Property Rating - Recommended

Fund Status - Open

This publication is not and should not be construed as, personal financial product advice, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information (general financial product advice) only. Read more here.