Reporting to its unit holders, prime trust acknowledged that their sale rates for their 12 core retirement villages (3,600 ILUs) has dropped from 7% to 8% to just 4.5%. This equates to a 40% decline on sales expectations and cash flow. They have 200 ILUs vacant (the equivalent of one entire village) but just 50 with deposits made. At $350,000 per ILU, the 200 properties equate to $70 million.
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...
