| AMP Capital circles back to Summerset Group WELLINGTON, NZ: AMP Capital Investors has emerged as a substantial shareholder in the company that it once owned - retirement village owner, operator and developer, Summerset Group. In a notice to the NZX, AMP Capital said it now owned just over five per cent of Summerset, which was floated on the exchange on November 2. AMP Capital is the second biggest shareholder after majority... Full story in Aged Care Housing Weekly / Subscribe #433 / 02-12-11 |
| Two aged care organisations at loggerheads MELBOURNE: The knives came out in the war over the elderly this week after Montefiore president David Freeman said Wolper and JewishCare had no future unless they became a part of Montefiore. Communal leaders have been reeling behind closed doors and several have come out publicly slamming Freeman's comments made last week. "It is unacceptable that Freeman puts other... Full story in Aged Care Housing Weekly / Subscribe #432 / 25-11-11 |
| Senior executives fighting public examination MELBOURNE: Senior executives of Lend Lease Primelife are fighting moves to publicly examine them over a controversial $60 million sale of management rights of the collapsed Prime Retirement & Aged Care Property Trust. The executives, led by chief executive Paul Walsh, have claimed in documents lodged with the Federal Court in Sydney that the Australian Securities and Investments Commission... Full story in Aged Care Housing Weekly / Subscribe #431 / 18-11-11 |
| ILF completes partial sale of USA portfolio SYDNEY: ING Real Estate Community Living Group (ILF) has settled its partial sale of its USA Seniors housing portfolio. ILF divested its 50 per cent interest in 15 of its 21 US Seniors communities to its joint venture partner, Chartwell Seniors Housing Real Estate Investment Trust (Chartwell) for $US171.5 million, which was in line with its December 2010 book value. The settlement of this... Full story in Aged Care Housing Weekly / Subscribe #430 / 09-11-11 |
| Retirement Villages NZ to sell down it's holding AUCKLAND, NZ: Metlifecare's cornerstone shareholder Retirement Villages NZ could be selling out and dividend repayments may be reinstated. The listed retirement village firm's annual meeting at Ellerslie heard how Retirement, with 81.96 per cent, might cut its stake and the company could have a more open register in a huge shakeup of the business, which owns 16 villages throughout N.Z... Full story in Aged Care Housing Weekly / Subscribe #429 / 09-11-11 |
| Ryman set to postpone its Melbourne push? CHRISTCHURCH, NZ: All the stars are now aligned against New Zealand-based Ryman Healthcare pushing ahead with its previously announced ambition to establish a beachhead in Victoria. Ryman Healthcare is understood to be scouring Melbourne and Victoria for a site to build an $A100 million ($NZ124 million) retirement village and prove it can successfully enter the Australian market. Ryman... Full story in Aged Care Housing Weekly / Subscribe #428 / 24-10-11 |
| Seminar on new trends in care homes on Nov 4 MELBOURNE: A day long seminar will be held in Melbourne on November 4, 2011 to canvass business opportunities and future trends in the nursing home / care village / retirement housing sectors. The industry is facing a combination of slow sales, product resistance, client prevarication and reduced Government support. Cash flow is tight, bank lending tougher, and occupancy levels are falling. But the industry is...Seminar Details #427 / 17-10-11 |
| Lenders have RVG in "structured liquidation" BRISBANE: The meltdown in the retirement village real estate market is far more serious than is being conceded by the balance sheet ratios / valuations / discount rates of many listed retirement village development and management companies. This is not a cyclical downturn that will automatically revert to the halcyon days of times past. Demand for the product has peaked, the target... Full story in Aged Care Housing Weekly / Subscribe #426 / 07-10-11 |
| Quadrant to selldown its Summerset holding WELLINGTON, NZ: Quadrant Private Equity plans to list retirement village company Summerset on the NZX in November but volatile market conditions may have played a part in the investment company deciding to offer just 30 per cent of its majority stake for sale. Summerset said that it had registered a combined investment statement and prospectus for the offer, which is aimed at raising... Full story in Aged Care Housing Weekly / Subscribe #425 / 03-10-11 |
| News Archive | |