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.”
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