Healthco Healthcare & Wellness REIT has expanded into childcare and acquired a portfolio of centres for around A$200m (€127m) in Australia.

The portfolio comprises 13 new centres, most of which are under construction and pre-leased to national tenants.

The REIT’s chair, Joseph Carrozzi said the acquisitions were consistent with the vehicle’s investment strategy and substantially increased the scale and diversification of the portfolio.

The trust, managed by HomeCo, raised A$650m when it listed on the Australian Securities Exchange last month, It has a mandate to invest in private hospitals, childcare centres, medical centres, pharmacies, government research facilities and life sciences hubs.

Carozzi said the REIT’s first post IPO acquisitions would be funded by its cash reserves and undrawn debt capacity while maintaining a “strong” capital position for future growth opportunities.

The acquisition will increase the trust’s portfolio from A$555m when listed to A$668m and about A$850m on as-complete basis.

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