Stockland has redefined the DMF on an accrual basis calculated under normal accrual accounting standards [only DMF earned within the period is accrued]. It says this is similar to straight lining property rent where income is accrued but the cash is received in the future. This resulted in a drop in accrued DMF income from $18 million in the First Half 2009 to $15 million in First Half 2010. Speculation is that this move will impact other operators plus add to the confusion of investors in the sector.
Community Living
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...
