Charter Hall Social Infrastructure REIT and Charter Hall Direct Long WALE Fund have acquired an education and a healthcare property in Australia from developer Alceon Queensland.

The Charter Hall funds have invested A$40m (€27m) each for their stakes in the newly constructed TAFE’s Gold Coast campus and the specialist medical facility in Robina,  in southeast Queensland.

10-year leases underpin the properties to state government-owned not-for-profit vocational education provider TAFE and Wise Medical. 

Charter Hall Direct CEO, Steve Bennett, said: “These two social infrastructure assets offer strong returns in a tightly held market.

“Following this transaction, the federal and state governments now represent over 30% of the net property income of the Charter Hall Direct Long WALE Fund.”

Travis Butcher, Charter Hall Social Infrastructure REIT’s fund manager, said: “These acquisitions demonstrate the benefits of a broadened strategy, which provides the fund with greater opportunities for investment in premium assets with strong property fundamentals.”

To read the latest edition of the latest IPE Real Assets magazine click here. 

Topics

Related Companies