This article is from the Australian Property Journal archive
EUREKA Group Holdings has purchased the 55-unit Albert St Gardens retirement village in Orange, New South Wales for $5.115 million.
It has a long-term occupancy of 92% and is forecast to generate annual EBITDA of around $720,000.
“The acquisition of Albert St Gardens is a strong start to the 2107 Financial Year and continuation of Eureka’s buy and build strategy, which continues to add to the existing economies of scale the company has in New South Wales,” Eureka executive chairman Robin Levison said.
“The addition of Albert Street Gardens follows the acquisition of three Blue care villages in late June and creates strong momentum for the company’s first-half revenues,” he added.
Eureka now owns 24 villages, with a total of 33 under management and a further six under due diligence.
Australian Property Journal
