For Purpose Aged Care Australia acquires turnkey aged care home
The Not For Profit, backed by social impact investment manager For Purpose Investment Partners, has acquired a new, vacant 89-bed aged care home.
For Purpose Aged Care Australia (FPACA) has purchased the only aged care facility in the northern Melbourne commuter hub town of Wallan, 50km from the city centre.
The home was developed by Anthony Sambuci of B.D.C (Properties) Pty Ltd.
The home is scheduled to open in early September 2026. In the four months between exchange and opening, FPACA says it will finalise commissioning, recruit and train staff, and establish clinical governance systems.
“Our focus now is on getting [the aged care home] ready,” said Matthew Filocamo, Group CEO of FPACA.
Rapid national expansion
Not For Profit FPACA, owned by social impact investment manager For Purpose Investment Partners, has emerged as one of Australia’s fastest-growing aged care operators since it launched in 2024.
The home will be FPACA’s ninth in Victoria, bringing the operator’s total homes to 19 (including three in NSW, three in WA and four in QLD).
The organisation operates more than 2,150 residential aged care beds, and has a further 600 currently in development.
FPACA acquired eight Signature Care homes in 2024, and opened 450 new aged care beds in FY25 alone.
“Wallan is a clear example of what happens when patient capital and a strong operator come together with a shared social mission,” said Victoria Adams, Managing Director of For Purpose Investment Partners. “New beds are hard to bring into the Australian aged care system.”
FPACA has the capacity to run the Wallan facility “for the long term”, she added.
Earlier this year, For Purpose Investment Partners and FPACA secured a $235 million social loan with the Bank Australia, Commonwealth Bank of Australia, and National Australia Bank. It was the first senior debt Social Loan for the group, which previously entered into social loans with Qantas Super and Australian Ethical Investments.
