The Heathley Direct Medical Fund No. 2 (Fund) is an unlisted property fund that invests in a portfolio of direct medical properties throughout Australia.
Heathley is currently raising $26 million of equity to acquire three additional properties for the portfolio. The acquisitions increase the Fund’s portfolio to nine properties with a total current value of $171 million.
- Multi-Asset Unlisted Medical Property Fund
- Open for Investment
- Open to
- Retail and Wholesale Investors
- Fund Commenced
- June 2017
- Fund Term
- Up to 7 years
|Type||Multi-Asset Unlisted Medical Property Fund|
|Status||Open for Investment|
|Open to||Retail and Wholesale Investors|
|Fund Commenced||June 2017|
|Fund Term||Up to 7 years|
The Heathley Direct Medical Fund No. 2 aims to acquire a diversified portfolio of specific medical properties located throughout Australia, with a target total acquisition value of approximately $150 million.
The fund will acquire a mix of strategically located, high quality medical assets with a focus on newly developed properties. It will also participate in the development of new medical properties (greenfield or brownfield sites).
The key investment attributes of the fund include:
- Direct exposure to medical property – long term investment fundamentals of the medical property sector remain attractive.
- Diversification – investments will be diversified by type, location and tenant.
- Long term leases – following the acquisition of new Properties, the portfolio will have a weighted average lease expiry of 6.7 years as at 31 December 2017.
- Attractive projected Fund returns – the Fund has a forecast distribution yield of 5.75-6.25% for the year ending 30 June 2018, which will grow with fixed rent increases from the Property tenants and future exposure to development returns.
- Development returns – access to development returns in a tightening yield environment.
332-342 Old Cleveland Road, Coorparoo, Brisbane Qld - Primary care based medical centre
2-24 Waldron Street, Yarrabilba, Brisbane QLD - Primary care based medical centre
9 Ashgrove Avenue, Ashgrove, Brisbane Qld - Primary care based medical centre
18 Prowse Street, West Perth WA - Day hospital
16 Weippin Street, Cleveland, Brisbane Qld - Primary care and major ancillary health centre -
RiverCity Private Hospital, 401-409 Milton Road, Auchenflower, Brisbane Qld - Private hospital
375A - 377 Concord Road, Concord West NSW (under contract) - Radiation oncology specialist centre
56 Rosemont Street & 51 Urunga Parade Wollongong (under contract) - Endoscopy clinic