Ten months after capturing 43.2% and control of Babcock & Brown Communities for $195 million (including management fees) and rebranding it Lend Lease Primelife, Lend Lease has made a move to buy the other 56.8% for approximately $175 million. They will also take on about $400 million in debt. The Mum and Dad security holders plus institutions have been offered $0.31 compared to $0.30 today. This will deliver approximately 55 villages and 29 aged care facilities at a cost of $770 million or $9 million average per property.
Community Living
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...
