The CEFC has an $80 million equity stake in the Barwon Institutional Healthcare Property Fund, which it acquired as part of a broader $375 million capital raising involving several large Australian superannuation funds. The Barwon portfolio contains 14 healthcare property assets covering sites in Victoria, NSW, Queensland, the ACT and WA, with a presence in regional Australia in Mackay and Gosford. It includes private hospitals, oncology services, pathology laboratories and mental health facilities.
14
healthcare properties
40%
emissions improvement
$80m
CEFC equity
This will enable us to introduce energy emission reduction measures in sites across Australia and show the rest of the sector how to combat the energy-intensive nature of healthcare real estate.Tom PatrickPartner, Barwon Investments Partners
Our investment
The CEFC has an $80 million equity stake in the Barwon Institutional Healthcare Property Fund, which it acquired as part of a broader $375 million capital raising involving several large Australian superannuation funds. The Barwon portfolio contains 14 healthcare property assets covering sites in Victoria, NSW, Queensland, the ACT and WA, with a presence in regional Australia in Mackay and Gosford. It includes private hospitals, oncology services, pathology laboratories and mental health facilities.
our impact
The CEFC investment will support improvements to the energy performance of existing assets to achieve carbon emissions reductions of about 40 per cent when compared with the Council of Australian Governments (COAG) Baseline Energy Consumption in commercial buildings. Measures include rooftop solar, energy efficient heating, ventilation and air-conditioning (HVAC) systems, lighting upgrades and building monitoring systems.
Based on targeted outcomes, the improvements to the portfolio are expected to deliver reductions of just under 6,000 tCO2-e annually, or just over 100,000 tCO2-e of abatement over the expected lifetime of the equipment. That is the equivalent of removing around 1,270 passenger vehicles from the roads each year or the electricity use of about 1,000 homes each year.
Barwon Investment Partners, which manages the Barwon Institutional Healthcare Property Fund, will also develop and implement a strategic plan to bring it towards net zero carbon emissions by 2030.
