Acquisitions

Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care

For Purpose Aged Care Australia (FPACA), the aged care provider established by social impact investment vehicle For Purpose Investment Partners (FPIP), is moving forward on its vision of reaching 5,000 beds, acquiring 14 aged care homes – eight on...

Lauren Broomham

24 Apr 2024

Legal Issues

Court conciliation sees $40M senior housing development approved on NSW Far South Coast

Much-needed senior housing is going to be built in the town of Merimbula, 240km southeast of Canberra. Matthew Pullinger, Acting Commissioner of the NSW Land and Environment Court, said conciliation talks between Bega Shire Council and the...

Ian Horswill

22 Apr 2024

Acquisitions

Mirvac CEO Campbell Hanan meets Serenitas Managing Director Rob Nichols in Western Australia

Mirvac and Pacific Equity Partners Secure Assets agreement to pay $1.01 billion, for a 95% ownership, with Serenitas CEO Rob Nichols’ Tasman Capital Partners keeping 5%, has been settled. Now Mirvac’s Group CEO and Managing Director, Campbell...

Ian Horswill

22 Apr 2024

Opinion

576 village sellers are waking up: buyers are knocking on doors as the demand and supply penny drops on seniors accommodation

With Aveo selling 16 villages and RetireAustralia, with 29 villages, now also up for full sale (again), we hear a lot about these big players in seniors accommodation, but little about the little guys – and there are a lot of them. In fact we have...

Chris Baynes

22 Apr 2024

Private

Eureka Group’s board again rejects Aspen’s second takeover bid offer

The move has been taken after Sandy Mak, Partner, Corrs Chambers Westgarth, acting on behalf of Aspen Group, lodged a second statement on its bid, stating its unsolicited takeover offer to acquire all Eureka shares for 0.26 Aspen shares for every...

Ian Horswill

17 Apr 2024

Government Policy

Water charges rising for retirement living and land lease communities in NSW’s Tweed Shire

The Shire Council has announced from 1 July 2024 that “some” non-residential property owners might experience an increase to their Water Access Charge, as Council phases-in over the next four years a calculation based on the amount of water used at...

Ian Horswill

09 Apr 2024

Private

Eureka’s directors unanimously recommend shareholders reject Aspen’s takeover offer

The nation’s only pure-play provider of over 50s rental accommodation on Monday, 8 April issued its Target Statement and Independent Expert’s Report by Lonergan Edwards & Associates to shareholders to show why it considers the offer...

Ian Horswill

09 Apr 2024

Private

Eureka advise shareholders to reject Aspen takeover bid as new shareholder emerges

The nation’s only pure-play over 50s rental accommodation provider has advised the ASX that Melbourne-based Copia Investment Partners has acquired a 6.65% voting power with 20,080 shares held, impacting Aspen’s bid for Eureka. This announcement...

Ian Horswill

02 Apr 2024

Home Care

BaptistCare buys Presbyterian Aged Care’s home care business

In March last year, BaptistCare finalised the acquisition of three sites, each comprising an aged care home and village, from Tulich Family Communities, and in June last year it merged with BaptistCare Western Australi

Caroline Egan

27 Mar 2024

Government Policy

Buybacks and capped CPI rent increases among significant changes coming to land lease legislation in QLD

Queensland Housing Minister Meaghan Scanlon introduced a Bill to amend the Manufactured Homes (Residential Parks) Act 2003, on Thursday, 21 March, that will establish a Code Of Conduct for the rental land lease sector, capping site rent increases...

Ian Horswill

25 Mar 2024

Acquisitions

Within 24 hours of its bid to win over Eureka, Aspen’s stake rises from 14% to 36%

Aspen, which provides accommodation in residential communities, retirement villages and holiday parks, is now the biggest shareholder in the nation’s only pure-play over 50s rental accommodation provider. Within 24 hours of it lodging its off-market...

Ian Horswill

25 Mar 2024

In the Headlines

This man has single-handedly killed Aspen’s takeover of Over 55s rental community provider Eureka

Eureka, the only pure-play over 55s rental accommodation provider in Australia, has told the ASX that Filetron, the business owned by Ben Cottle, founder, primary shareholder and Non-Executive Chairman of the FDC Group of companies, does not intend...

Ian Horswill

22 Mar 2024

Private

Aspen makes formal offer to buy seniors rental accommodation operator Eureka Group

The Sydney-based affordable housing group on Friday, 15 March, told the ASX through lawyers Corr Chambers Westgarth, it has made a formal offer to buy the nation’s largest provider of affordable seniors’ rental accommodation. Aspen is offering...

Ian Horswill

18 Mar 2024