The successful retirement arm of Becton has had to shelve further development plans given the financial strain its parent Becton Property Group is under. They have sold a long held development site in eastern Melbourne for $7.1M to retire debt to Bendigo & Adelaide bank. They also have a Suncorp facility that has to be refinanced by end July valued at $73M. About 50% of Becton Retirement is owned by the Oman governments Oman Investment Fund which invested originally because of the Becton village development pipeline. That no longer seems to exist.
Mergers & Acquisitions
Brookfield sells retirement village operator Aveo for $3.85B
Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, has agreed to sell its retirement living platform, Aveo, to The Living Company for A$3.85 billion...
