RAM Asset Management has acquired Arcadia Pittwater Private Hospital in Warriewood, Sydney, for A$39.5 million ($25.9 million), according to a report by realestatesource.
The 85-bed rehabilitation hospital comprises approximately 54,088 square feet across a five-level complex at 4 Daydream St.. The property is leased to Arcadia Health Care through 2051 and generates A$2.59 million ($1.7 million) in annual net rental income. The transaction reflects a 6.6 percent yield.
Dexus sold the property on behalf of its Healthcare Property Fund, having acquired it for A$50.5 million ($33.1 million) in 2021.
The acquisition marks the fourth asset for RAM’s open-end RAM Australia Opportunity Fund (HOF), which has a total fund value of approximately A$250 million ($164 million). The fund targets healthcare real estate investments through acquisitions, repositioning and developmen
