SYDNEY: Elanor Healthcare Real Estate Fund has acquired the Broadway Medical Centre, located at 150 Coolamon Boulevard, Ellenbrook, WA for $12.0 million, reflecting a 6.00% capitalisation rate.
This is the fifth acquisition for the Fund since its establishment in March 2020 and grows the value of the Fund’s portfolio to over $201.2 million.
ENN Co-Head of Real Estate and EHREF Fund Manager, David Burgess, said: “The Elanor Healthcare Real Estate Fund continues to perform strongly. Recent increases in the valuation of the Fund’s portfolio reflect this strong performance. The Broadway Medical Centre is fully leased and further diversifies the Fund’s high-quality tenant mix. Growth in the healthcare sector and the shift to ‘out-of-public hospital’ services continues to provide significant expansion opportunities for private sector healthcare operators.”
ENN CEO, Glenn Willis, said: “We are pleased to have secured a further high investment quality healthcare real estate asset for the Fund. The healthcare real estate sector continues to attract strong investor demand. We look forward to acquiring further high investment quality assets for the Fund in the near term.”
Listed on the Australian Securities Exchange in 2014, Elanor Investors Group (ASX:ENN) is an investment and funds management business with over $2.0 billion in funds under management across Australia and New Zealand.
Elanor’s key sectors of focus are commercial office, retail, healthcare and hotels, tourism and leisure real estate.
Elanor’s investment management objective is to acquire and unlock value in real estate assets that provide strong income and capital growth potential.