01 · Overview
Fund overview
The Spire USA ROC Seniors Housing and Medical Properties Fund (AUD) (‘the Fund’) is a feeder into the Bridge Seniors Housing & Medical Properties Fund LP (“Bridge Seniors I”) (‘Underlying Fund’).
The Underlying Fund is a US$737 million (equity) “buy, fix, sell” private equity real estate fund, investing in value-add US seniors housing and medical properties. The Fund has a US$51 million capital commitment to Bridge Seniors, of which 95% has been called and invested. The underlying fund was used to acquire a diversified portfolio of 57 separate seniors housing assets across the US comprising over 6,500 units, at an aggregated purchase price of approximately US$1.7 billion. 40 of these assets have now been sold, with the remaining properties to be sold throughout 2025.
Source: Spire Capital fund page, spirecapital.com.au, 28 October 2026.
02 · Facts
Fund facts
- Investor type
- [CONFIRM]
- APIR
- ETL0429AU
- Trustee and fund manager
- Spire Capital Limited
- Investment manager
- Bridge Investment Group
- Underlying fund
- Bridge Seniors Housing & Medical Properties Fund LP
- Asset class
- Real Estate
- Vintage year
- 2015
- Distributions
- Annually as at 30 June
- Structure
- Closed-end unit class of the Spire Capital Master Fund, no redemptions
- Status
- Closed to new investment
- Currency
- AUD, unhedged
03 · Performance
Performance
Unit price
AUD 0.0910
As at 31 May 2026
Since inception
-6.44%
Net IRR p.a.1
Net return by period to 31 May 2026
| Period | Net return |
|---|---|
| 1 month | -10.96% |
| 3 months | -24.61% |
| 6 months | -31.31% |
| 1 year | -45.91% |
| Since inception1 | -6.44% |
1Performance Since Inception – Inception date (08 December 2015) occurred from the commencement of NAV based unit pricing, following the completion of capital raising in December 2015. Please note, however, that each investor’s performance numbers are calculated on an individual basis from their time of application and may differ from the above. “Performance since inception” is measured as the Internal Rate of Return since inception. The IRR is the annualised rate of return that equates the amount and timing of irregular cashflows since inception with the period end value. For the purposes of the monthly report, the IRR replaces the time weighted return since inception effective 30 June 2023. Source: Spire Capital, as at 31 May 2026.
04 · Distributions
Distribution history
Cash distribution per unit by period (cents)
| Period | Cash (CPU) | FITOs (CPU) | Ex-distribution unit price (AUD) | Components |
|---|---|---|---|---|
| 28 February 2026 | 2.0050 | Nil | Not published | |
| 31 December 2025 | 19.7235 | Nil | 0.1506 | Not published |
| 31 October 2025 | 14.8061 | Nil | 0.3570 | Not published |
| 30 June 2025 | 4.2629 | Nil | 0.6273 | Components notice (PDF) |
| 31 January 2025 | 5.2032 | Nil | 0.7646 | Components notice (PDF) |
| 30 June 2024 | Nil | Nil | 0.8724 | Not published |
| 30 June 2023 | Nil | Nil | 1.0755 | Not published |
| 30 June 2022 | Nil | Nil | 1.3920 | Not published |
| 30 June 2021 | Nil | Nil | 1.3511 | Not published |
| 30 June 2020 | Nil | 0.2798 | 1.4738 | Not published |
| 30 June 2019 | 1.3336 | 0.2876 | 1.4291 | Not published |
| 30 June 2018 | 8.2865 | 0.3835 | 1.2835 | Not published |
| 30 June 2017 | 1.8291 | 0.3303 | 1.2533 | Not published |
| 30 June 2016 | 0.5244 | 0.1201 | 1.2184 | Not published |
CPU: cents per unit. FITOs: foreign income tax offsets. Source: Spire Capital, fund distribution records, as published on spirecapital.com.au, 28 October 2026.
05 · Documents
Documents and forms
Monthly reports and manager updates are issued to investors through the Spire Investor Portal.
The fund is closed to new investment. Existing investors can transfer units off market using the transfer form, and update their details with the forms listed. Enquiries to info@spirecapital.com.au.
Investor login[Disclaimer: existing Investment Solutions wholesale wording, unchanged, subject to compliance review.] Past performance is not a reliable indicator of future performance.