Disability accommodation fund boosts book 20pc
Barwon Investment Partners has boosted its portfolio of specialist disability accommodation 20 per cent, with north west Sydney assets.
For the open-ended Barwon Disability Accommodation Fund, the manager has outlaid $14.8 million for 20 units and two overnight assistance dwellings, in Macquarie Park, to be superintended by Vera Living.
The trust already owned 96 units worth a total $83.3m.
“This acquisition aligns perfectly with our strategic focus of investing in an established area where participants want to live and where there are services to support them,” BDAF portfolio manager, Joss Engebretsen, said.
“There is clear demand for contemporary, purpose-built accommodation in existing areas closely serviced by neighbourhood amenities, care providers, and key infrastructure,” he added.
“The mid-town [Macquarie Park] precinct features market, affordable and social housing options alongside Barwon’s SDA offering, serviced by local retailers, open spaces, a new community centre, a new school, childcare facilities and a commercial pool and gym, all connected through a network of footpaths,” according to the executive (story continues below).
“The properties are expected to produce an investor distribution yield of over seven per cent when fully occupied, being accretive to the Fund’s distribution, forecast to be achieved over the next 12 months.
Vera will transition residents from outdated group homes.
BFAF returned unitholders just over nine per cent for FY24 and 8.94pc for the 24 months prior to the 31 July, 2024, distribution.
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