Arena REIT has forged into the emerging asset class of disability housing with the acquisition of three facilities in Adelaide for $23.95 million.
While a small exposure for Arena, the move is a significant vote of confidence in the nascent sector which is attracting increasing attention from institutional investors.
In what is being billed as potentially a $5 billion housing asset class, the emerging sector is backed by National Disability Insurance Scheme funding for the development of specialised accommodation for people with disabilities.
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Source: The Financial Review