Just quietly, there is a lot of money is looking for a development home
Here is our back of envelope figures on what money is being moved into the sector: $420M: Victorias Japara (aged care) is looking for a buyer. It had US private equity group Blackstone close to a deal early this year at $420M until Blackstone got...
Here is our back of envelope figures on what money is being moved into the sector:
$420M: Victorias Japara (aged care) is looking for a buyer. It had US private equity group Blackstone close to a deal early this year at $420M until Blackstone got into trouble with another of its aged care operators in the UK. The deal is still there to be done.
$226M: current Stockland retirement village development program
$200m: Pacific Equity has been one name mentioned circling Lend Lease to buy its 31 aged care facilities
$130M: the Oman Sovereign Fund ($50M) and Goldman Sachs ($80M) long and short term strategic investment in the Becton portfolio
$120M+: Royal Automobile Club (WA) buys the St.Ives group.
$120M: IRT projects in development across three states and territories
$100M+: Singaporean sovereign investment fund Temasek casting its eye over a number of Australian assets via an Australian operator.
$100M: Blue Care (QLD) development program with its new Azure Blue brand plus aged care
$100M+: Australian super fund ISPT on the lookout for a significant portfolio and executive team to get it started in the sector
$100M+: UnitingCare NSW redevelopment of its huge land bank of old villages
$100M: private Chinese funds openly looking for vertical villages to buy to learn about the sector
$95M: (JP Morgan) plus $145M (Morgan Stanley) investment in RetireAustralia group
$50M+: Anglican Retirement Villages redevelopment of its Castle Hill campus
$50M: Ingenia cash available in December from US village sales for Australia acquisitions and development
$50M: Masonic Homes SA village expansion across borders after unloading its aged care to ECH
$20-50M: NZs Ryman Healthcare is building its first NZ model village in Wheelers Hill (Melbourne) as a test to expand here given saturation development program in NZ
$20M+: Corporate doctor/liquidator KordaMentha related execs have been building their stake in Eureka Care Communities own or operating 33+ rental villages
$50M+: The families re-entering the market, having sold out at the peak. We see the Knowles, Gannon, Buxton and Inge families stirring, to name a few.
The others in development: Lend Lease, Aveo, Amana Living, Bethanie, Arcadia, Australian Unity, Baldwin, Walter Elliott, Goodwin, Hindmarsh, Lifestyle Communities, Living Choice to name a few
