Masonic Homes SA - another Not For Profit operator emerges as a big player with $600 million committed

Masonic Homes CEO Doug Strain has announced a growth strategy to achieve Top
20 retirement living operator ranking by 2015. It has just purchased the 233 ILU’s in
the Hillsview village at Happy Valley (SA) for $10 million, bringing the number of ILUs
operated by Masonic Homes to 800 with a further 750 in the development pipeline.
Existing village assets are valued at $300 million with a further $300 million currently
in development and construction. The sale of Hillsview was handled by Roger Klem of
Colliers.