Australian Unity’s Healthcare Property Trust seeks capital to invest in healthcare real estate

Australian Unity's Healthcare Property Trust (AUHPT) has launched a A$350 million ($242 million) capital raise to fund acquisitions and developments in Australia’s healthcare real estate sector.

The A$3.8 billion ($2.6 billion) open-ended fund, one of the largest unlisted healthcare property trusts in Australia, was launched in 1999 and now has more than 10,000 investors. The trust owns 99 healthcare-related assets across Australia and delivered an 8.8 percent total return throughout the past year, according to several news reports.

The offer launched on March 5 and will close on March 31, with an excess offer to open on April 24 and close on May 12. The offer will include a A$150 million ($104 million) non-renounceable rights issue offer to existing investors and a A$200 million ($139 million) general offer for new investors.

The capital raise will be used to strengthen AUHPT's balance sheet to provide funding for upcoming acquisitions and developments, accor