LLP has revalued one third of its Australian retirement portfolio and all of its New Zealand portfolio, with a draft report that it has declined in value by approximately 5%. They report this is a consequence of a rise in the average portfolio discount rate from 12.5% to 13%. The average growth rate has remained unchanged at 4% per annum. There loan to valuation ratio is expected to be approximately 31%. They also report they are likely to breach their interest rate cover ratio with their financiers because of these revaluations - which they will have to work out that banks.
Topic - Acquisitions
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...
