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© 2024 The Weekly SOURCE
Editorials

New retirement village funding vehicle created by Australian Unity

1 min read

The property funds management business of Australian Unity Investments (AUREI) has created a one off retirement village development fund to finance the construction of the Australian Unity $65 million village development in Carlton (Melbourne).

$12 million of the $65 million came from one investor, Taverners Group, which is the family investment company for Peter Scanlon who has a reported personal wealth $740 million, originally gained by his ownership of Patrick Corporation which he sold to Toll Holdings in 2006.

Given the success of this capital raising AUREI is likely to create further specialist funds for village construction. Their flagship fund, the Australian Health Care Property Trust with over $700 million invested, owns 25 hospitals, medical centres and aged care facilities.

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