US Medical Offices Portfolio I

In 2021, we made a significant acquisition of a diverse portfolio of twenty-four medical office assets, totaling over 1 billion square feet of rentable space. The transaction amounted to a substantial investment exceeding US$430 million.

These medical offices are strategically spread across eleven states, aligning with our long-term growth strategy and focus on sectors with promising fundamentals. The medical offices sector has seen consistent expansion following the pandemic, driven by the substantial shift towards outpatient care as a means to alleviate the burden on hospitals. Notably, the United States has witnessed increased healthcare spending, an aging population, and minimal occupancy fluctuations, providing a solid foundation for the sector's growth.

Our portfolio assets encompass a mix of short- and long-term leases with renowned entities in the US healthcare industry. Notable tenants include Cleveland Clinic, Texas A&M Health Science Center, Novant Health, Children’s Wisconsin, Meritus Health, and several others. These assets cover a wide range of specialized care centers, effectively positioned on or near hospitals and medical campuses.