As reported above, Stockland last night sold its remaining 11.6% stake in FKP for $107M, or $1.78 per security. Under its retired CEO David Pitman they built a 14.9% holding in FKP in 2008 with a first option to buy the Aveo village business if FKP needed to sell it. The new Stockland group CEO Mark Steinert announced several months ago they were no longer interested in acquiring Aveo and were cashing out. As late as yesterday he made a long term commitment to support Stocklands own retirement village business. This will be even more appealing given the investor community evangelical conversion to retirement in the past month.
Opinion
Retirement villages have Canberra’s attention – now the sector must prove its value
Three years after Daniel Gannon took the reins of the Retirement Living Council (RLC), the sector has achieved something his predecessor Ben Myers was never able to: national recognition in Canberra. This is just the fist step. Retirement villages now need to capitalise on this moment. Here’s how.
