Arena REIT's The Gums Salisbury. (Photo: SACARE)Arena REIT's The Gums Salisbury. (Photo: SACARE)

Arena REIT has acquired a portfolio of three specialist disability accommodation properties in South Australia for AUD23.95 million (USD17 million).

The properties are located in metropolitan Adelaide area, and are currently leased on a long term basis to SACARE, a provider of disability care and rehabilitation services in South Australia.

The acquisition has been described by Arena REIT as one that is consistent with its strategy to grow, and diversify its existing healthcare portfolio of social infrastructure properties.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.