Property group Dexus has expanded further into healthcare with a strategic investment in REIT manager Heathley Limited, which is set to list on the ASX.
Dexus will acquire an initial 28.5 per cent interest in Heathley for $11.3 million, with an option to acquire a further 21.5 per cent interest in the future.
The deal will see Dexus get a representative on the board of Heathley Asset Management Limited, the responsible entity of the healthcare REIT, in addition to Heathley Limited itself.
‘We are pleased to be able to partner with Heathley and look forward to continuing to build scale in this growing sector,’ Dexus Chief Executive Officer, Darren Steinberg said in a statement.
The investment follows Dexus’s launch of the Healthcare Wholesale Property Fund in December 2017.