Axa IM enters Australian healthcare sector

The real assets branch of Axa Investment Managers (Axa IM) has invested in the healthcare sector in Australia through a joint venture with property firm Grosvenor Group and Centuria Heathley.

The asset manager has invested in two hospital assets as part of a plan to diversify a portfolio worth 500 million Australian dollars (€308.3 million) in the short term.

According to the fund manager, the attractiveness of the Australian healthcare sector is underpinned by demographic trends such as the country’s ageing population and longer life expectancy.

Axa IM’s two seed assets, which set the foundation for this healthcare venture, are the Mater Women’s & Children’s Hospital in Townsville and the Westside Private Hospital, a multi-tenanted private hospital in the inner-western suburbs of Brisbane.

Both assets are secured with long leases to established national healthcare operators. The Westside Private Hospital is described as a newly developed “state-of-the-art facility” offering complementary health services, including a day hospital and a “medi-hotel”.

©2019 funds europe

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