This article is from the Australian Property Journal archive
ASX-listed office tower owner Dexus is furthering its diversification plans, raising $220 million from investors for its $1.8 billion healthcare property fund.
The Dexus Healthcare Property Fund (DHPF) equity raise was fully subscribed, with existing investors accounting for about 65% of the new capital. The fund has now raised $1.3 billion from 16 institutional investors since its inception in December of 2017, including a $250 million raise at the end of 2021.
“This successful equity raise confirms investor interest in high quality healthcare investments remains elevated. We are committed to continuing to unlock healthcare investment opportunities for our investors,” said Dexus executive general manager funds management, Deborah Coakley said.
DHPF has delivered a five-year fund return (post fees) of 13.6% to the end of March, outperforming the comparable MSCI benchmark return of 12.4%.
DHPF fund manager, Jemma Maddick said, “DHPF resonates strongly with investors looking to capitalise on sector tailwinds via a high-quality portfolio, while leveraging the Dexus platform to grow the fund and deliver performance for our investors”.
DHPF recently acquired a 9.95% interest in Celsus Holding Pty Ltd, the consortium that manages and maintains the Royal Adelaide Hospital alongside Dexus Community Infrastructure Fund and Dexus Core Infrastructure Fund.
In 2020, Dexus and the DHPS acquired Adelaide’s Australian Bragg Centre – the nation’s first proton therapy centre – for $446.2 million.
