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In 2022, our Diversified Property Investments business furthered our successes of 2021. Our team committed £300m in eight deals in five countries and five sectors, split between repeat business with existing international partners and three new partners. This brings our total equity committed at the year end to £700m with 13 partners across eight sectors and six countries*.
Commercially, we had several significant achievements. We sold our Australian healthcare investment with Centuria- Heathley, realising an IRR of 22.3%, an equity multiple of 1.9. We were able to capitalise on improved pricing of opportunities in 2022, deploying c.US$100m into office investments in the US with Bridge Investment Management and c.US$100m into prime US logistics assets with FHR Capital, both opportunities which would have been too expensive a year prior. We also continued to invest in the growth of our Australian logistics partner, Gateway Capital.
Our rigorous approach to responsible investment continues to guide our strategy, with a variety of new investments that exemplify our values. This included: a cutting-edge life sciences investment with Breakthrough Properties; the provision of high-quality medical facilities with MedProperties; market-leading environmental upgrades of office buildings with Bridge Investment Group; and furthering our investment in student accommodation management with Uliving in Brazil.
Additionally, we supported our Polish partners REINO-IO in their efforts to assist Ukrainian refugees in Warsaw, providing immediate aid such as housing, medical care and food for refugees and procuring nearly 8,000 items of bedding, duvets and towels to furnish temporary refugee accommodation.
To support our objective of doubling the size of our business in the next five years, a new board was constituted and appointed, welcoming Chairman Jonathan Lane, and Independent NED, Olivier Piani. A Responsible Investment Strategy was also published, formalising how we, and our work with partners, will support the delivery of social and environmental benefit as we grow.
We made a strategic push to begin the business’s expansion into Asia, undertaking due diligence and creating contact networks across the continent to better understand the individual markets in which we plan to establish partnerships.
Looking into 2023, we are closely watching the uncertain economic conditions that are creating buying opportunities, recognising that we will have to show considerable discipline in our choices in this market. We will continue to work with our partners to deliver on our ambitious plans, securing environmental and social benefit from our investments alongside financial.
And in line with the Group-wide strategy, we will further our work to articulate our approach to net zero carbon portfolio-wide.
* Excluding Sierra Sonae