- Elanor Investors Group’s (ENN) health care real estate fund has acquired its fifth property, growing its portfolio to over $201 million
- The Elanor Healthcare Real Estate Fund acquired the Broadway Medical Centre, located at 150 Coolamon Boulevard, Ellenbrook, WA for $12.0 million, reflecting a six per cent capitalisation rate
- The Ellenbrook property is the fifth acquisition for the fund since its establishment in March 2020
- The group recently announced the formation of a new fund in partnership with Savills Investment Management
- Elanor Investors Group shares are up 0.86 per cent following the announcement, trading at $1.77 at market close
Elanor Investors Group’s (ENN) health care real estate fund has acquired its fifth property, growing its portfolio to over $201 million.
The Elanor Healthcare Real Estate Fund acquired the Broadway Medical Centre, located at 150 Coolamon Boulevard, Ellenbrook, WA for $12.0 million, reflecting a six per cent capitalisation rate.
“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,” ENN co-head of real estate and EHREF fund manager, David Burgess said.
“Growth in the healthcare sector and the shift to ‘out-of public hospital’ services continue to provide significant expansion opportunities for private sector healthcare operators,” he added.
The Ellenbrook property is the fifth acquisition for the Fund since its establishment in March 2020.
“We are pleased to have secured a further high investment quality
healthcare real estate asset for the Fund,” ENN CEO Glenn Willis said.
“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,” he concluded.
The group recently announced the formation of a new fund in partnership with Savills Investment Management.
The Clifford Gardens Fund will acquire the Clifford Gardens shopping centre for $145.0 million.
The group said the acquisition of Clifford Gardens reflects a yield of 7.9 per cent per annum and $5244 per square metre of lettable area.
Elanor Investors Group shares are up 0.86 per cent following the announcement, trading at $1.77 at market close.