Overview

The Heathley Aged Care Property Fund No.1 (Fund) is an unlisted direct property fund that invests in leased residential aged care properties located throughout Australia, targeting a portfolio value of up to $200 million and diversified by operator and location.

The Fund is temporarily closed for investment.

On 6 November 2018 a Special Resolution was passed by unitholders for the restructure of the Fund to combine it with five additional healthcare and aged care real estate funds into a stapled REIT and to list the REIT on ASX. The votes for the Special Resolutions are summarised below:

AMENDMENTS TO TRUST DEED

FOR:

26,266,527 VOTES REPRESENTING 90.50% OF VOTES CAST
236 HOLDERS REPRESENTING 82.23% OF HOLDERS

AGAINST:

2,756,506 VOTES REPRESENTING 9.50% OF VOTES CAST
51 HOLDER REPRESENTING 17.77% OF HOLDERS

ABSTAIN:

317,500 VOTES
10 HOLDERS

APPROVAL OF THE PROPOSED TRANSACTION

FOR:

26,442,109 VOTES REPRESENTING OF 90.12% VOTES CAST
241 HOLDERS REPRESENTING 81.14% OF HOLDERS

AGAINST:

2,898,424 VOTES REPRESENTING 9.88% OF VOTES CAST
56 HOLDER REPRESENTING 18.86% OF HOLDERS

ABSTAIN:

0 VOTES
0 HOLDERS

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RG46 Disclosure Information Flyer
Type
Multi-Asset Unlisted Property Fund
Status
Temporarily Closed for Investment
Open to
Retail and Wholesale Investors
Fund commencement
November 2015
Fund Term
Up to 8 years
TypeMulti-Asset Unlisted Property Fund
StatusTemporarily Closed for Investment
Open toRetail and Wholesale Investors
Fund commencementNovember 2015
Fund TermUp to 8 years

Fund Objectives

A THEMATIC INVESTMENT IN THE GROWTH OF AUSTRALIA’S AGEING POPULATION

The Heathley Aged Care Property Fund has been established to offer investors with the opportunity to invest in the growth of Australia’s ageing population.

To date the Fund has acquired nine strategically located high care aged care properties in Sydney and Adelaide. Properties leased on very long terms, with an average remaining term of 17.7 years.

The Manager intends to build a portfolio of Properties with the aim of providing Investors with a stable income return and the potential for capital growth. To achieve the Investment Strategy, the Manager will aim to acquire Properties which are diversified by operator and location, with long term leases in place, and multiple exit strategies.

The Manager is seeking to raise additional money (Offer) to acquire additional Properties, up to a value of $200 million over a three year period (Investment Period).

The residential aged care sector is a growing part of the provision of health care services in Australia, with a number of attractive drivers, including:

–– an increasing number of elderly citizens, driven by increased life expectancy and the ageing of the ‘baby boomer’ generation;

–– high barriers to entry and the low threat of substitutes;

–– attractive and sustainable government funding through both operator contributions and consumer directed packages; and

–– strong operator occupancy rates, with industry wide rates of >92% for the past 15+ years.

Fund Summary

Property Portfolio


Infinite Care - 50 Gulfview Road, Christies Beach SA

Infinite Care - 1A Mainstreet, Hahndorf, SA

Infinite Care - 12-14 Fox Ave, Klemzig, SA

Infinite Care - 3-5 Grant Avenue, Gilles Plains, SA

Infinite Care - 470 Churchill Road, Kilburn, SA

Group Homes Australia - Carrington Rd, Waverly, NSW

Group Homes Australia - 98 Alameda Way, Warriewood, NSW

Group Homes Australia - 81 Fairlawn Ave Turramurra, NSW

Group Homes Australia - 29 Earl Street, Hunters Hill NSW

Group Homes Australia - 28 Irrubel Road, Carringbah NSW

Hall & Prior - 22 Morrison Road, Perth & Surrounding Land WA

Hall & Prior - Sydney Metro Sydney (under contract)

More Information

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