ASX-listed rental retirement village operator Eureka has finalised its purchase of management and letting rights as well as 55 units from an Oxford Crest village in southeast Queensland.

Eureka agreed to buy 55 of the 72 units at River Hills, Oxford Crest’s village in Eagleby, for $7.3 million in July; River Hills, Oxford Crest’s first village, was opened in 2002.

“The transaction has been funded by debt and cash reserves and is consistent with Eureka’s strategy to acquire owned and managed village assets in the seniors’ independent rental living sector,” said Eureka.

Prior to the purchase, Eureka owned 33 villages and managed an additional eight, covering 2,250 units in total.