Real estate investment manager April Group has snapped up Hunters Hill Private Hospital for $28 million, banking on resilient healthcare demand and the long-term value of scarce metropolitan land despite broader headwinds facing the private hospital sector.

The seller, mutual group Australian Unity, offloaded the property on a capitalisation rate of about 6 per cent. Akin to an investment yield and loosely correlated to bond yields, a rise in cap rates typically signals falling asset values, and vice versa.