Last week we reported the $190M Parkes Gardens with a planned 644 ILUs / Over 55s development in Parkes, in Far West NSW. Now Southern Cross is proceeding with an additional 48 ILUs worth $12 million. Out f the blue ING Community Living is seeking land in Parkes for its first new development in a number of years. ING CEO (and RVA President), Simon Owen, say ING sees opportunity in regional Australia, as compared to his big competitors who concentrate on the cities. 29% of Parkes 15,000 residents are 55+. It is also flourishing, with mining and a new transport hub placing pressure on affordable housing stock.
Mergers & Acquisitions
Brookfield sells retirement village operator Aveo for $3.85B
Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, has agreed to sell its retirement living platform, Aveo, to The Living Company for A$3.85 billion...
