The Centuria Capital Group (ASX: CNI) share price is flat in morning trade, down 0.21%.
This comes after the S&P/ASX 200 Index (ASX: XJO) listed company reported it had acquired 3 private healthcare assets for $57.3 million for its unlisted open-ended Centuria Healthcare Property Fund (CHPF).
What healthcare real estate did Centuria Capital acquire?
Centuria reported it had acquired the 3,400 square metre Coffs Harbour Specialist Centre in New South Wales for $23 million. It said the asset is strategically located next to the regional public hospital.
Centuria also acquired the 2,470 square metre Cairns Day Surgery in Queensland for $21.6 million. The day surgery is also situated close to 2 major hospitals in Cairns, the public Cairns Hospital and Cairns Private Hospital.
The third healthcare property Centuria acquired is the Murrumba Village Medical Centre, also in Queensland, for $12.7 million. The company said this centre will “provide allied and ancillary health services” once the building is complete in March 2022.
Commenting on the new acquisitions, Andrew Hemming, Centuria Healthcare’s managing director, said:
Since we launched CHPF in late August 2020, investor appetite has been strong. The Fund is continuing to expand its portfolio, which is aligned with our strategy to secure modern, purpose-built assets that lend themselves to efficient and effective models of care.
These new transactions align to our strategy, enabling us to deliver monthly income returns to our investors. Our last capital raise before Christmas saw the fund substantially oversubscribed. Needless to say, our focus remains on meeting investment demand for high-quality healthcare assets.
With the new transactions, CHPF’s assets under management are now worth $219.9 million across 10 healthcare assets.
Centuria Healthcare’s total portfolio across Australia stands at $1.0 billion.
Centuria Capital share price snapshot
Over the past 12 months Centuria Capital’s shares are down 3%. By comparison the ASX 200 is up 14% in that same time.
Year-to-date the Centuria Capital share price is down 10%.
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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