This article is from the Australian Property Journal archive
LIFESTYLE and retirement communities operator Eureka Group Holdings has settled on its $13.13 million of a 124-unit rental village in Bundaberg.
The group said the village would be earnings accretive from year one with no additional overhead costs required. Eureka is looking to grow its core business in the seniors’ independent living sector.
The transaction will be funded by debt and cash reserves and Eureka’s loan to value ratio will remain below 50% after this transaction.
Eureka already has a 60-unit village in the regional Queensland centre.
