The Melbourne-based mutual fund, which announced it was undertaking a review of its aged care portfolio in February, is according to a national newspaper “exploring a sale and leaseback” of it's aged care facilities.
Australian Unity currently operates 10 integrated residential care and retirement village precincts and 13 stand-alone retirement villages across NSW, Victoria and Queensland (Karagi Court at Bateau Bay on the NSW Central Coast is pictured).
The Australian reported while a sale of the residential care business might be possible, sources said Australian Unity is actively considering a sale and leaseback of the portfolio.
The company reported in March that its Independent Assisted Living platform, which includes its retirement villages, saw a 9.3% growth in revenue to $318.3 million in the 12 months to 31 December 2022.
Australian Unity announced in June last year that the Independent Assisted Living platform has been split in two.