Dexus Secures Adelaide Healthcare Asset in $446m Swoop

 Dexus Secures Adelaide Healthcare Asset in $446m Swoop

Investment giants Dexus has expanded its healthcare portfolio after acquiring an Adelaide medical centre in a $446.2 million deal.

The sale marks one of the largest ever single-asset private healthcare acquisitions in Australia in a show of strength for the country’s commercial sector.

Dexus CEO, Darren Steinberg said: “This transaction accelerates the growth of our funds management platform and is a step towards our goal of being a partner of choice in Australian healthcare property. “

“It also increases Dexus’s portfolio diversification, providing exposure to a sector with strong tailwinds,” he said.

The move indicates a growing trend of investors looking to explore other sectors after the effects of COVID have seen more and more people working from home reducing the demand for office space.

This is an exciting milestone for HWPF that secures a landmark, large-scale healthcare asset, diversifying the fund’s portfolio of high-quality healthcare properties.

Deborah Coakley – Dexus Executive General Manager, Funds Management

Dexus, partnered with its unlisted healthcare fund, the Healthcare Wholesale Property Fund, has secured the Australian Bragg Centre in a joint 50/50 venture, pushing their healthcare portfolio to over $1 billion.

Commercial & General CEO, Trevor Cooke said: “This is a vote of confidence by the institutional market in the South Australian economy and the quality opportunities we continue to create. “

The Australian Bragg Centre is a transformational project that builds on our long-standing relationship with Dexus.

Trevor Cooke – Commercial & General CEO

The Bragg Centre is a state-of-the-art clinical research facility in the heart of Adelaide’s $3.6 billion BioMed City precinct and is at the forefront of Australian medical research.

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