The new CEO of ING Real Estate Community Living, Simon Owen, has announced that the group has successfully refinanced its Australian debt facilities. This can only be regarded as a major achievement given their debt gearing ratio of 79%. Owen has stated they can now focus on delivering operating performance and cash flow from their core businesses, being the Settlers and Garden Villages businesses in Australia and 21 seniors communities in the US. [Simon Owen is also president of the Retirement Village Association].
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...
