Reporting to its unit holders, prime trust acknowledged that their sale rates for their 12 core retirement villages (3,600 ILUs) has dropped from 7% to 8% to just 4.5%. This equates to a 40% decline on sales expectations and cash flow. They have 200 ILUs vacant (the equivalent of one entire village) but just 50 with deposits made. At $350,000 per ILU, the 200 properties equate to $70 million.
Healthcare Australia buys home care provider My Care Solution
South Australian family-owned home care provider My Care Solution has sold its operations to Healthcare Australia, which is owned by Sydney-based venture capital firm Crescent Capital. Healthcare Australia is a healthcare staffing business, with...