Fund house Real Asset Management (RAM) has swooped on a new health care facility in the Brisbane suburb of Nundah in a $51.25m play, showing the strength of the health market.<\/p>\n\n\n\n
RAM will deliver a health precinct spanning more than 10,000sq m on the site, anchored by a 58-bed private mental health hospital on a new 25-year lease to operator iMH.<\/p>\n\n\n\n
The facility is set to help alleviate Brisbane\u2019s shortage of mental health beds and allow the operator to implement a new model of care combining in-hospital and at-home\/in-community services.<\/p>\n\n\n\n
Located at 20 Nellie St, the sale was handled by RWC Medical agents Franz Stapelberg, Chris Meyer, and Jess Meyer on behalf of a private developer that undertook the project.<\/p>\n\n\n\n
The property comprises four buildings, with health care operators in the precinct to include Lumus Radiology, Ivy Dental and Ivy Medical.<\/p>\n\n\n\n
Mr Stapelberg said the sale to a prestigious institutional fund high-lighted the thriving demand for specialised health care properties in the region.<\/p>\n\n\n\n
The asset now forms part of the RAM Australia Healthcare Opportunity Strategy, which is looking to invest up to $1bn in Australian health care real estate in the near term.<\/p>\n\n\n\n
\u201cNundah is an excellent example of the deal origination philosophy we are pursuing for our health care real estate strategy, which involves a bottom-up approach in originating opportunities in collaboration with our operating partners,\u201d RAM executive director Matthew Strotton said.<\/p>\n\n\n\n
There has been a surge in demand for mental health services throughout Queensland.<\/p>\n\n\n\n
\u201cEstimates of the state\u2019s mental health bed shortage range between 400 and 2100, so there is a huge opportunity to supply the gap. Our Healthcare Opportunity Strategy seeks to invest in these demand driven opportunities when they present themselves,\u201d RAM funds management director Sam Wood said.<\/p>\n\n\n\n
Aurora Healthcare has seen increased demand for mental health services across many of its sites Australia-wide over the past four years.<\/p>\n\n\n\n
\u201cWe worked closely with our partner, iMH \u2013 a joint venture between Aurora and Medibank\u2019s Amplar Health \u2013 to identify a suitable site for a new facility that would offer them space to implement their innovative model of care,\u201d Mr Wood said.<\/p>\n\n\n\n
The hospital is set to open in the second half of 2024.<\/p>\n\n\n\n
RAM is following a build-to-core strategy to keep risks in check.<\/p>\n\n\n\n
\u201cBefore contracting any acquisition, we pre-let a majority of the space available in the development or value-add opportunity,\u201d he said.<\/p>\n\n\n\n
Before settling on Nundah, RAM added about $18m in value via planning and leasing, and hit occupancy of 68 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fund house Real Asset Management (RAM) has swooped on a […]<\/p>\n","protected":false},"author":1,"featured_media":34178,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"post-type":[],"class_list":["post-28740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-the-media-zh-hans"],"acf":[],"yoast_head":"\n