While it is making just $500,000 net profit a year from managing or owning about 30 rental villages, Eureka Group has announced to the Stock Exchange that it is doing due diligence on investing in EPIC Property Limited, an investment Property Fund with $65M und management. Eureka Group is the remnant of the rental village groups Village Life and SunnyCove that succumbed to massive debt while trying to build a 70+ portfolio pre GFC. It now has about 30 rental villages under management. Eureka states its strategy is to somehow add its villages to EPIC's 22 mainly commercial properties worth $65M to enhance its asset base.
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...
