AXA’s real estate branch invested in the healthcare sector in Australia through a joint venture with real estate company Grosvenor Group and Centuria Heathley.
AXA IM – Real Assets enters joint venture with the aim of capitalizing on more high quality opportunities in the Australian healthcare real estate sector to create a diversified portfolio of A $ 500 million ($ 340 million ) short term.
According to the fund manager, the attractiveness of Australia’s healthcare sector is based on demographic trends such as the country’s aging population and increasing life expectancy.
Through this strategic venture, AXA IM – Real Assets will be able to partner with Centuria Heathley and help deliver high quality, purpose built real estate solutions for healthcare operators across Australia ”
Axa IM’s two seed assets, which laid the foundation for this healthcare business, are Mater Women’s & Children’s Hospital in Townsville and Westside Private Hospital, a private multi-tenant hospital in the western suburbs. from Brisbane.
As part of the agreements, Centuria Heathley Limited will create and manage the delivery of the assets and help drive the management of the assets. Centuria Heathley currently manages Australian assets across a range of healthcare segments including medical centers, day hospitals and tertiary care for the elderly, while having established strategic relationships with specialist healthcare operators. . This is also aligned with Centuria Heathley retaining a minority stake in the joint venture.
This transaction allows AXA IM – Real Assets to extend its real assets platform in Australia in the healthcare sector while leveraging its existing global healthcare expertise and its portfolio of 3.2 billion Australian dollars.
Kumar Kalyanakumar, Head of Australia, at AXA IM – Real Assets, said: “Our strategy is to continue to invest on behalf of clients in other real asset sectors in Australia. This is driven by our belief in the long-term fundamentals of the alternative sectors as well as our global and local experience which enables us to execute and generate value in these sectors “
“Health care ownership in Australia is highly fragmented with minimal real estate securitization, and we see the opportunity for AXA IM – Real Assets to become a leading institutional investor in the industry. AXA IM – Real Assets recognizes the attractiveness of this sector which is supported by demographic trends, including the aging of Australia’s population and increasing life expectancy, as well as the continuing needs of the population for health care and stakeholder emphasis on preventive and low-cost models of care in Australia.
“Through this strategic venture, AXA IM – Real Assets will be able to partner with Centuria Heathley and help deliver high quality, purpose built real estate solutions for healthcare operators across Australia.