Love Ageing

Folkestone takes 5.07% stake in rental village operator Eureka

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The real estate fund and property development business has picked up 11,672,906 securities in the country’s largest village operator since June ahead of its acquisition by the property fund group Charter Hall this month.

Eureka has had a rocky road over the past two years with an unfriendly boardroom fight causing the exit of its chairman, and then the exit of a new CEO. It posted a $100,000 loss for this financial year and was forced to write down three of its Supported Residential Facility properties in SA.

The operator now has 32 owned villages and nine managed villages with 2,182 units across Australia.