Charter Hall Social Infrastructure REIT (ASX:CQE) has entered into an agreement to acquire 14 Stratton Street, Newstead, Queensland for $122.5 million.
It intends to buy, and then leaseback the property to Mater Health Services - Queensland’s largest Catholic, not-for-profit health provider.
Charter Hall Group’s managing director and CEO, David Harrison says the company is “excited about establishing a relationship with Mater as a major tenant customer within [its] growing Social Infrastructure portfolio, further reinforcing [its] commitment to grow [its] reach with major providers of Social Infrastructure services.”
Fund manager for the REIT Travis Butcher noted the acquisition was an exciting opportunity for the REIT to gain exposure to the highly resilient health sector and that it opens up future partnership opportunities with Mater.
Shares in Charter Hall Social Infrastructure REIT (ASX:CQE) are trading 2.51 per cent higher at $2.86.