The company’s chief executive, David Di Pilla, has flagged further acquisitions after snapping up 11 Healthscope facilities for $1.2 billion.
the “underlying structural demand” for private hospitals and other healthcare real estate was “compelling”.“Private hospitals will outperform in all circumstances. These are not malls or office space, but part of a sector with structural tailwinds behind it.” he said.
HMC Capital’s $1.2 billion real estate deal that will be backed by almost $600 million of fresh equity and supported by its lenders, Westpac and ANZ, through an increased debt facility.understands oversubscribed – $320 million equity raising that will fund the initial acquisition of four of the private hospitals by its listed HealthCo HealthcareWellness REIT including The Northpark Private Hospital, The Victorian Rehab Centre and Pine Rivers Private Hospital.
Included in that portfolio is $4.7 billion of convenience malls owned by the ASX-listed HomeCo Daily Needs REIT, a trust spun out of the original Home Consortium business that was created through the acquisition of the former Masters portfolio in 2016.The acquisition of another $2.5 billion of assets before year-end will come through investments in last mile logistics, healthcare and through expansion of its private equity business, he said.
Others will big healthcare funds include Dexus, Centuria, Barwon Investment Partners and Australian Unity.forecast the total value of the private hospital real estate sector to hit $41 billion by 2041 – a rise of 63 per cent in less than 20 years – on the back of investment in new facilities to cater for the medical needs of an ageing population and a rise in the take-up of private health insurance by younger Australians.
Mr Di Pilla said this reduced risk for the landlord, while the net lease terms struck with Brookfield mean HMC Capital’s listed and unlisted funds do not have to cover any operating costs associated with these properties.
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