HealthCo Healthcare & Wellness REIT (HCW) has acquired a life science building in Macquarie Park in Sydney from Australian Unity Office Fund for A$81m (€52m).
The acquisition follows a partnership ASX-listed HCW had formed with Australian blood plasma processing company Aegros.
HCW senior portfolio manager, Sam Morris, told IPE Real Assets that it was through Aegros that the trust managed to source and buy the life sciences building off-market.
Morris said Aegros and med-tech company Saluda Medical are the anchor tenants in the building. Together, they occupy 70% of the net lettable space and provide 65% of rental income.
Morris said HCW had a non-binding memorandum of understanding with Aegros to explore sale and leaseback real estate opportunities.
“We are doing early due diligence with Aegros on a planned A$400m-plus blood fractionation plant in Queensland which the state government had committed to support the project.”
The trust also announced the formation of a partnership with the hospital group Mater Misericordiae.
HCW and Mater will co-own Springfield Health Hub in Queensland. Mater will be the anchor tenant at the health hub, occupying 40% of the space on a long-term lease.
Morris said the trust would work with Mater to look for future development opportunities across Queensland and possibly into other states.
“Our strategic partnerships with Mater and Aegros are consistent with HCW’s strategy to build relationships with key healthcare tenant partners to support future growth opportunities,” said Morris.
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