Group Homes Australia and Heathley Announce Property Partnership
Announcement posted by Reconnect PR 22 Nov 2016
The partnership, designed to drive future growth, has Heathley agreeing to fund the purchase and development of Group Homes Australia (GHA) residences through its existing Heathley Aged Care Property Fund No.1 (Fund). The agreement will offer Fund investors exposure to a dementia and high care property investment, coupled with the attractive fundamentals of the residential property market - whilst offering commercial income yields.
The Fund will enter into a long-term lease with Group Homes Australia at each property, with a preliminary commitment to fund $50 million of property acquisitions.
Heathley’s Managing Director Andrew Hemming says: “We are excited to partner with GHA. We continue to show interest in property investments which illustrate strong underlying demand drivers. GHA broadens our exposure in the aged care sector to dementia and high-care residents in an innovative and exciting format. Whilst this care model is new in Australia, it has proven to be successful in the US and in parts of Europe. We feel privileged to be able to facilitate an expansion of options for those people living beyond a diagnosis of dementia in the Australian community.”
Group Homes Australia is a pioneer in the field of dementia and high care, offering an alternative to the traditional institutional model. Group Homes Australia is currently operating eight homes in Sydney’s North Shore, Northern Beaches and Eastern Suburbs.
CEO and founder of Group Homes Australia, Tamar Krebs adds: “We are delighted to be working with Heathley. This partnership will deliver significant benefits to our ability to make this innovative model of care available to more residents nationally. As we consider our national expansion options, there are clear benefits in terms of the deep networks of high net worth individuals and institutional investors that Heathley Limited has built over its 40-year history. Our homes represent an exciting point of difference for Heathley’s investors.”
Group Homes Australia will continue to have sole operating responsibility for the homes under the new arrangement.
Media Contact:
Candice Meisels
candice@candicepr.com
About Group Homes Australia
Founded in 2012, Group Homes Australia offers an innovative model of care for people living with dementia. It is the first of its kind in Australia and focuses on creating a non-institutional style of living that emphasises residents’ abilities, rather than their disabilities. The homes look and feel like traditional houses in traditional streets and are part of the broader community. They exude a warm, safe and friendly environment for 6-10 residents. Each resident receives personal, tailored care and lives with dignity and a sense of purpose.
Website: www.grouphomes.com.au
About Heathley Limited
Since incorporation in 1977, Heathley has had a proud history of finding, structuring and managing property investment portfolios for wealthy individuals, families, and institutions. The principal operations of Heathley is property funds management - having successfully established 40 property funds throughout its 40-year history. The Board and Management of Heathley Limited have a diverse mix of experience and skills and currently manage nine property funds with total funds under management of approximately $550 million. Website: www.heathley.com.au