Arnold Bloch Leibler has advised Barwon Investment Partners on its A$291.25 million acquisition of Peninsula Private Hospital from Australian Unity.
Located in Langwarrin, approximately 45 kilometres south-east of Melbourne, Peninsula Private Hospital is a purpose-built, 350-bed acute private hospital operated by Ramsay Health Care. It is Ramsay’s largest facility in Victoria and its fifth-largest private hospital nationally.
The property is fully occupied and has a weighted average lease expiry of 34 years. It will be held by the Barwon Institutional Healthcare Property Fund, which provides institutional investors with exposure to Australian healthcare real estate.
ABL’s transaction team was led by property & development partner Matthew Davies, with support from senior associate Ben Chahoud and law graduate Victoria Milne.
Matthew said: “Given the scale of the asset and its use as an operating hospital, the acquisition required close attention to the property and long-term leasing arrangements underpinning the investment. We have great respect for Barwon and the calibre of its team and value our longstanding relationship. It was a pleasure to support them on another important addition to their healthcare property portfolio.”
Barwon managing partner and head of healthcare property Tom Patrick said: “The acquisition is an important step in the continued growth of the fund and demonstrates our ability to execute on investments at this point in the cycle.”
