Centuria and Morgan Stanley form $210 million healthcare joint venture

Australian investment manager Centuria Capital Group (ASX: CNI) has established a new institutional healthcare property joint venture with Morgan Stanley Real Estate Investing (MSREI) to be called the Centuria Prime Partnership (CPP).

The CPP is seeded with three healthcare real estate assets collectively worth $210 million, which Centuria says are supported by strong tenant covenants and high-quality operators on long lease terms.

Further assets have been identified and it is intended additional healthcare assets will be acquired by CPP, which will be administered by Centuria. CPP comprises a 90 per cent investment from MSREI and 10 per cent from Centuria.

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