Charter Hall Social Infrastructure REIT and Charter Hall Direct Long WALE Fund have acquired an education and a healthcare property in Australia from developer Alceon Queensland.
The Charter Hall funds have invested A$40m (鈧�27m) each for their stakes in the newly constructed TAFE鈥檚 Gold Coast campus and the specialist medical facility in Robina, in southeast Queensland.
10-year leases underpin the properties to state government-owned not-for-profit vocational education provider TAFE and Wise Medical.
Charter Hall Direct CEO, Steve Bennett, said: 鈥淭hese two social infrastructure assets offer strong returns in a tightly held market.
鈥淔ollowing this transaction, the federal and state governments now represent over 30% of the net property income of the Charter Hall Direct Long WALE Fund.鈥�
Travis Butcher, Charter Hall Social Infrastructure REIT鈥檚 fund manager, said: 鈥淭hese acquisitions demonstrate the benefits of a broadened strategy, which provides the fund with greater opportunities for investment in premium assets with strong property fundamentals.鈥�
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