The Australian: First State Super to invest $400M in 15 new Oak Tree villages

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Update on last week’s story here: super fund First State Super has told the paper they expect to invest up to $400M in the village operator over the next five years after taking a 70% share in the group.

First State Super head of income and real assets Damien Webb said the fund would back the existing development pipeline which includes 15 projects in the next two years.

“Retirement villages are a new asset class we wish to make a meaningful part of our portfolio,” Mr Webb said.

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