EG Funds has made its first move into the healthcare real estate sector with the acquisition of two high-quality medical centers in Australia’s Gold Coast region — Parkwood and Highland Park medical centers — for a combined purchase price of A$12.8 million ($8.1 million).
The acquisition is underpinned by strong investment fundamentals, including a net passing yield of 8.7 percent and a weighted average lease expiry of 3.0 years, which includes a rental guarantee. Investors are projected to receive an average distribution of 8.4 percent per year (paid quarterly).
Located in key growth corridors, these properties provide essential primary healthcare services, serving as a frontline solution to alleviate pressure on Australia’s increasingly stretched hospital system. They are leased to IPN, Australia’s largest operator of GP clinics and a division of ASX-listed Sonic Healthcare. By supporting preventative and community-based care, these facilities play a vital
