Medical Properties Targets 6% Yield

Moelis Australia will be the top tennant in the proposed Healthley Healthcare REIT.

It was reported last week that the soon-to-be-listed hospital and day surgeries owner Heathley Healthcare Real Estate Investment Trust is coming to market to raise about $250 million, implying about a 6% yield. Heathley will use the funds to continue its acquisition and expansion of its portfolio of medical properties throughout Australia.

Heathley REIT will own 42 properties including day hospitals and specialist centres, medical centres, residential aged care facilities, medical offices and private hospitals, worth $528.4 million as at September 1.
Its top tenant is Moelis Australia-backed aged care operator Infinite Care, ahead of ASX-listed Primary Health Care and Sonic Healthcare, Queensland Health and Mater.

Institutional money have flocked to Australia’s medical properties space in recent years as the sector looks set to continue its strong expansion. At the same time, it opens up opportunities for small to medium businesses in the sector.


By Lee Xie (Senior Project Manager)

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