MFS Diversified Group has settled on its $110 million purchase of 23 Village Life retirement villages.
The 23 properties portfolio includes 10 Village Life villages and 13 managers’ unit.
MFT is also a 19% shareholder in Village Life.
MFT now has 49 properties in its portfolio with a combined asset value of approximately $272 million.
MFT chief executive Craig White said the purchase will significantly enhance the geographic and sector diversification of MFT’s portfolio and provides significant value to both MFT and Village Life.
He added that MFT’s decision to invest into the retirement village sector is based upon the sector’s strong growth profile which is underpinned by the empirical evidence of a greying population in Australia.
By Adam Parsons
