87-89 Langtree Avenue in Mildura, Victoria. Source: CBRE
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  • Real Asset Management (RAM) has purchased two healthcare ventures from Centuria’s unlisted healthcare fund for around $16 million
  • Both properties have 1608-square-meter structures on 951-square-meter grounds, with equivalent weighted average lease expiry periods of more than six years
  • larkshill Road in Secret Harbour
  • Tristar Medical Group and Mildura Optical are tenanted at 87-89 Langtree Avenue in Mildura.

Centuria’s unlisted healthcare fund has sold two healthcare ventures to Real Asset Management (RAM) for roughly $16 million.

Following an expression of interest campaign for the portfolio conducted by CBRE’s Sandro Peluso, Derek Barlow, Marcello Caspani-Muto, and Jimmy Tat, RAM bought tenanted properties in Secret Harbour, Western Australia, and Mildura, Victoria.

Both properties have 1608-square-meter structures on 951-square-meter grounds, with equivalent weighted average lease expiry periods of more than six years.

Care Medical Group, Oasis Pharmacy, and Complete Range Physiotherapy occupy 2 Clarkshill Road in Secret Harbour, while Tristar Medical Group and Mildura Optical are tenanted at 87-89 Langtree Avenue in Mildura.

“Our team has seen a shift in investor appetite, in WA and across the country, for healthcare investments,” Mr Barlow said.

“Traditional ‘core’ investors are increasingly looking to diversify their holdings with the acquisition of one or multiple properties within the space. This demand can also be seen with a number of recent and forthcoming floats for A-REITs starting highly-specialised funds within the healthcare space.”

Secret Harbour is around 60 kilometres south of Perth, whereas Mildura is a rising regional city in northwest Victoria on the banks of the Murray River.

“These acquisitions are highly-strategic, with both properties anchored by leading local healthcare providers who have good reputations within their communities, which are relatively remote by metropolitan standards,” Mr Caspani-Muto said.

“The events of the past 18 months have acted as a catalyst for investor and developer interest towards the healthcare sector, with the phrase ‘recession proof’ proving incredibly accurate given the strength, unwavering operational activity and multiple market-defying transactions in the space.”

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