, Singapore

CLI and Pruksa Holding invest in wellness and healthcare real estate in SEA

The CapitaLand Wellness fund is expected to inject $1b into CapitaLand Investment.

CapitaLand Investment Limited (CLI) and Pruksa Holding Public Company Limited (PSH) closed the inaugural wellness and healthcare-related real estate fund, CapitaLand Wellness Fund (C-WELL).

For C-WELL, CLI and PSH committed an initial investment of $350m to the fund's target equity size of $500m and they have the option to increase it to $1b in equity and target asset value of $2.9b when fully implemented.

"C-WELL marks the second jointly established fund by CLI and PSH in their continuing strategic partnership following the launch of the CapitaLand SEA Logistics Fund last year. C-WELL is a Southeast Asian anchored value-add fund with an initial focus on Singapore, Thailand, and Malaysia," read the statement. 

The fund targets investments in single or mixed-used assets across the wellness spectrum, comprising residential, lodging, senior living, clinics, medical suites, hospital facilities, and wellness- and lifestyle-oriented living solutions. 

"The fund will also have an allocation for relevant strategic development opportunities in the Asia Pacific region," it added.

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