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.
Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care
For Purpose Aged Care Australia (FPACA), the aged care provider established by social impact investment vehicle For Purpose Investment Partners (FPIP), is moving forward on its vision of reaching 5,000 beds, acquiring 14 aged care homes – eight on...