Aevum is set to buy the Moran Health Care Group’s retirement village interests in New South Wales and Western Australia.
The portfolio comprises three mature villages in the Mandurah / Bunbury region in WA and a mature village in Bathurst New South Wales.
The Moran villages would add 152 accommodation units to the 517 units and 202 aged care beds that Aevum currently operates in four locations across suburban Sydney.
The acquisition would be funded through existing cash reserves which at May 31, 2006 were $39 million.
By Nelson Yap
