Only 6,000 ILUs were built in the US in 2010, according to Robert Ezer of Baybridge Seniors Housing (Ontario) at the Terrapinn Retirement World Conference last week. This compares to 1999 when construction peaked at 65,879 ILUs. He sees no change in the uptake in the US market either, because of the mortgage crisis, despite the accelerated ageing of the population. This tells us that the village market can hold off the decision to move.
Mergers & Acquisitions
Brookfield sells retirement village operator Aveo for $3.85B
Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, has agreed to sell its retirement living platform, Aveo, to The Living Company for A$3.85 billion...
