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.
Retirement living for the “well-heeled”: Residents begin to move into Retirement by Moran’s second venture: Sage in Cronulla
Shane Moran, the Founder and Chief Executive of Retirement by Moran, concedes admission to his residences is “not inexpensive”. Sage is an eight-storey development of 37 two- and three-bedroom apartments. The art-deco- meets-coastal-chic...