Banks in todays market will generally not finance a vertical village, according to the panel of Richard gates (ANZ), John McNamara (Bendigo & Adelaide) and John Perry (Argyle Residents Group). They agreed that a staged development of a up to 20 ILUs with 50% pre sales, an experienced operator, experienced sales and marketing team and approaching 50% equity would be the starting line for consideration. As a result vertical villages will remain the domain for Not for Profits, that have the cash or the land bank or both.
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...