The two founding families of the Victorian retirement village industry this week entered the BRW Families List their wealth an indication of their enduring commitment to the sector.
The Inge family sold their Zig Inge Group to the Retirement Villages Group last November for $641 million the family had retained a 51 percent stake in the company following Macquarie Capital Funds acquisition of 49 percent in 2005. Their wealth now totals $435 million.
The Knowles family similarly sold their portfolio of retirement villages last year to Stockland for $329 million a large portion of this money has been used to launch the company Australian Retirement Communities. The Knowles family also has interests in Arcare, which has 11 nursing homes around Victoria.
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...
