Deadline closing for expressions of interest for RVG villages

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FKP has carrying out a marketing campaign in the Financial Review for the potential sale of some of Retirement Village Group’s retirement villages (RVG villages). FKP is the investment manager of the $650 million closed-end retirement investment fund, RVG. They operate under the FKP Aveo brand.

No specific villages or prescribed volume of sales has been set, however the marketing campaign is for potential sales of villages amounting to $30-$50 million.

FKP states the campaign is on the back of increased interest from potential acquirers for some of RVG’s villages, driven by strengthening property markets in Victoria and NSW. Around 80% of RVG’s portfolio of 29 villages is located in Victoria and have potential synergies with aged care facilities.

The campaign is being run by Marcus Willison of Ernst & Young. Expressions of interest close this Friday 28 June.