Babcock & Brown Communities Group (BBC) has option to grow by 60% to 9,800 ILUs under management

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Investment bank Babcock & Brown (through its Primelife/BBC business) has secured an option over the management rights of the unrelated Prime Trust group of villages which controls 3,600 ILU’s. Babcock & Brown already have 6,200 ILU’s across Australia and New Zealand, meaning they will control close to 10,000 ILU’s or approximately 85 villages. They also operate 940 beds in 17 aged care facilities.