Eureka Group considers unlisted all-age communities fund to grow

The only pure seniors and all-age rental community operator is aiming to add 200 homes per year to its portfolio.

Announcing its 1H26 financial results today (Tuesday 24 February), Eureka Group Holdings’ Chief Financial Officer Shiv Chetan said the operator was continuing to explore capital partnership options, including a potential unlisted all-age fund “to broaden capital sources, and add fee, development and outperformance income in 2H26.”

Eureka has been steadily acquiring all-age rental communities and revealed it now has 3,784 units/sites, a 41% increase since it raised capital in November 2024 to fund its acquisition pipeline. In total, the operator has 59 communities across seniors’ rentals and all-age rentals.

Eureka also announced:

• Its revenue had increased 20% to $27 million (1H25: $22.6 million) with rental income up 28% to $21.2 million;
• Underlying EBITDA was up 11% to $9.1 million (1H25: $8.2 million);
• Underlying profit before tax increased 14% to $6.1 million (1H25: $5.4 million; and
• Statutory net profit after tax fell 18% to $5.2 million (1H $6.4 million), relecting lower net valuation gains from the write-down of acquisition costs on investment properties.

“Eureka continues to deliver resilient cashflows from our seniors’ rental portfolio, while rapidly scaling our all-age rental platform,” Managing Director and Chief Executive Officer Simon Owen said.

“The all-age segment is expanding our addressable market and provides multiple levers for earnings growth through acquisitions, development and operational improvements.”