Shares

$48M turnaround: Estia Health makes profit after tax with sale pending

CEO Sean Bilton said the FY23 financial outcomes for shareholders of the aged care provider with 73 homes operating across four states “signify a marked turnaround in sector and company operational performance notwithstanding the ongoing impacts...

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Ian Horswill

23 Aug 2023

Selling

Lendlease confirms it is selling or reducing remaining stake in Keyton retirement living

Lendlease’s 2023 annual report yesterday confirmed what The Weekly SOURCE has reported previously – it can’t wait to sell the remaining 25.1% of its interest in Keyton. For more than 30 years, Lendlease has been at the forefront of the...

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Ian Horswill

15 Aug 2023

Aged Care

Estia Health board recommends shareholders accept Bain Capital’s $830 million takeover bid

Estia Health has announced that it has entered into a Scheme Implementation Agreement with US-based Bain Capital to acquire 100% of its shares at $3.20 a share, five months after the private equity giant first launched a bid for the ASX-listed aged...

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Caroline Egan

07 Aug 2023

Funding

Lendlease reportedly seeks to sell its 25% stake in retirement living business Keyton

The listed multinational construction and real estate company real estate developer has employed investment bank Gresham to get a good price for its stake, according to The Australian

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Section Editor

12 Jun 2023

Topic - Aged Care

Bain raises bid for Estia Health to $3.20 per share

Boston-based private equity firm Bain Capital has increased its takeover bid for ASX-listed aged care provider Estia Health to $3.20 per share with a non-binding offer. The Estia Health board has recommended shareholders “progress” the offer and...

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Section Editor

07 Jun 2023

Funding

RetireAustralia apartment prices rise 6% with a unit resale profit of $154,666

It was in March last year that Infratil and joint owner NZ Super Fund announced a strategic review of its shareholding in RetireAustralia, which Infratil and NZ Super Fund abandoned in November

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Section Editor

22 May 2023

Topic - Developments

Macquarie Group’s “substantial” investment in Ingenia Communities sees shares spike

The global financial services group has acquired more than 20 million shares in the ASX-listed land lease, rental village, and holiday park owner. The investment equates to a 5.01% stake in Ingenia and means Macquarie Group is now the sixth largest...

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Section Editor

01 May 2023

Topic - Aged Care

Regis Healthcare shares in play

Two weeks after Bain Capital launched a bid for Estia Health, the other listed aged care provider Regis Healthcare is also attracting stock market interest. Regis Healthcare’s shares have risen about 40% over the last month. Cooper Investors...

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Section Editor

12 Apr 2023

Funding

Arvida’s business grows with ‘care suites’ as share price falls 43% this financial year

New Zealand’s Arvida moves ahead with the replacement of residential aged care beds with resident funded care suites under a DMF model. “Our experience with care suites to date has demonstrated that there is a market need for this product with...

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Team Editor

10 Apr 2023

Topic - Developments

Ingenia Communities sees 51% increase in rental revenue

Despite construction delays, Ingenia Communities said its revenue increased 32% on 12 months to $173.6 million as it released its HY23 financial results this morning. It sold 125 homes in the past six months and has 350 contracts and deposits in...

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Section Editor

20 Feb 2023

Topic - Aged Care

Ryman asks shareholders to raise $902M to repay ‘uncomfortable’ debt

The New Zealand-based provider, which has been rapidly increasing its property portfolio in Victoria, is asking its shareholders to find up to $NZ902 million to help repay what CEO Richard Umbers says is ‘uncomfortable’ debt. Ryman announced a 1...

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Section Editor

15 Feb 2023

Housing

Aspen buys 14% Eureka stake in $16M deal

ASX-listed affordable housing company Aspen Group has purchased almost 14% of listed rental village operator Eureka Group Holdings for $16.1 million, in a vote of confidence in both Eureka and the rental village sector as a whole. Aspen Group, which...

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Section Editor

19 Dec 2022

Funding

New NZ village operator Fletcher Building launches 15% DMF & 4 month buyback as ‘retirement village light’ and diversity of choice

Listed building products and construction company Fletcher Building has launched its first retirement village development titled Vivid Living. Bucking the established DMF market of 25 to 30%, it is offering 15% with 50% capital gain share, fixed...

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Section Editor

12 Dec 2022