Topic - Acquisitions

NorthWest Healthcare Properties adds another $2.4B for health and aged care expansion in Australia

Mar 23 2022 Updated May 3, 2023

Section Editor

1 min read

NorthWest Healthcare Properties and its joint venture partner, GIC, have committed to invest a further $2.4 billion in their Australian healthcare platform, which now stands at more than $6 billion.

The Toronto Canada-listed specialist healthcare real estate owner and developer, which launched a savage and ultimately unsuccessful bid for Australian Unity Healthcare Properties Trust last year, owns 33 aged care homes and private hospitals and health centres in Australia and New Zealand.

“We have appetite for acquisition and development,” said NorthWest Healthcare Properties President and CEO for Australia and New Zealand, Craig Mitchell, the former CEO of Grocon (pictured).

“But good quality acquisition is harder.”

NorthWest Healthcare Properties has a separate investment partnership with New Zealand-listed Vital Healthcare Property Trust.

The partnership last month acquired a 27,840sq m site in Campbelltown, 53km southwest of Sydney’s CBD, for $76.6 million, to develop a healthcare precinct in partnership with Campbelltown City Council.

Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania

Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...

Ian Horswill

22 Apr 2024

Acquisitions

Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care

For Purpose Aged Care Australia (FPACA), the aged care provider established by social impact investment vehicle For Purpose Investment Partners (FPIP), is moving forward on its vision of reaching 5,000 beds, acquiring 14 aged care homes – eight on...

Lauren Broomham

24 Apr 2024

Opinion

576 village sellers are waking up: buyers are knocking on doors as the demand and supply penny drops on seniors accommodation

With Aveo selling 16 villages and RetireAustralia, with 29 villages, now also up for full sale (again), we hear a lot about these big players in seniors accommodation, but little about the little guys – and there are a lot of them. In fact we have...

Chris Baynes

22 Apr 2024

Development

Seniors housing faces becoming “the roadkill of the NSW planning system”

Two major policies recently exhibited by the NSW Department of Planning, Housing, and Infrastructure (DPHI) could have major implications on seniors housing, said Ethos Urban Director Daniel West. The Weekly SOURCE stated last Tuesday that Daniel...

Ian Horswill

16 Apr 2024

400% increase in aged care job applications: Anglicare Sydney

dfasdfdasfasdf Yvette McDonald Chief People and Customer Officer, Anglicare Sydney Our residential care workforce has seen a significant turnaround due to both internal and external factors. Internally: we have focused on residential manager...

Caroline Egan

23 Apr 2024

Home Care

National Aged Care Advisory Council on Aged Care Taskforce Final Report and new Aged Care Act

You can read the communique here

Caroline Egan

23 Apr 2024

Home Care

Ageing population sees hospitals “at breaking point” and it is going to get worse: AMA

Emergency wait times are the longest in a decade and surgery wait times are at their longest ever, according to the 2024 Public Hospital Report Card, an annual report that uses data from the Australian Institute of Health and Welfare to pinpoint...

Caroline Egan

23 Apr 2024

Home Care

Leading Not For Profit Calvary Health Care in deal with Salesforce for new home care platform

Not For Profit integrated health care organisation Calvary Health Care has selected Customer Relationship Management (CRM) platform Salesforce to develop technology provide a seamless healthcare experience for clients, aged care residents, patients, and

Caroline Egan

23 Apr 2024