Prime Trust Promises to Deliver for Investors, Kidder Communities Takes Over

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Despite the gloom, Prime Trust predicts it will maintain its distribution to unit-holders at the current rate into 2009. This is 8.4c per unit, which are priced at 46.5c – a return of 18 percent before tax if you bought their units today. They also state they have been achieving ILU price rises of 15 to 25 percent in key villages, thanks to upgrade programs.

Kidder Communities has now completed the management takeover of Prime Trust, bringing another new significant player to the industry. Interestingly, both Babcock & Brown Communities and Kidder are moving away from the term ‘retirement villages,’ choosing to introduce ‘community’ to their business description.