Positive Diagnosis Lures Equity to Healthcare

EXCLUSIVE ALEXANDRA CAIN 07 AUG 23 The Urban Developer

Investors are lining up for alternative assets including quality healthcare real estate as valuations for traditional commercial property asset classes such as office and retail languish.

You don’t have to look hard to see it happening—take Dexus’s recent fully subscribed $220-million equity raise for its unlisted healthcare property fund, for example.

Dexus Healthcare Property Fund (DHPF) has returned a five-year fund return of 13.6 per cent to investors to March 31, 2023.

The fund recently bought 9.95 per cent of Celsus Holding, which, along with Dexus Community Infrastructure Fund and Dexus Core Infrastructure Fund, manages the Royal Adelaide Hospital.?

Oracle Investment Management portfolio manager Jack Magann notes Dexus has done well to raise capital for this unlisted fund, given property investors Charter Hall and MA Financial recently closed investor redemptions on two unlisted property funds.?

“Investors are looking for assets that will continue to provide income and capital growth in an uncertain environment,” he says.

AUTHOR: Alexandra?Cain