After flagging its intention to expand interstate last year, Halcyon has reportedly started its investor search to find a capital partner who can take a majority stake.
As we covered here, the operator called in global advisory and management firm Rothschild to help it assess its capital options late last year.
Founded in 2004 by Dr Bevan Geissmann (pictured) and Paul Melville, Halcyon currently has nine communities across southeast Queensland – mostly on the Sunshine Coast and Gold Coast.
The Fin Review is now reporting that the discussions with Rothschild have resulted in Halcyon deciding it wants a new majority backer – with the company’s shareholders even willing to sell out entirely if the right offer was received.
Sale documents will begin to be circulated as early as this week so that prospective investors can look over Halcyon’s business and determine if they will throw in with the developer.
It is understood that Halcyon has a considerable development pipeline and would use the funds to venture into other states.