Aspen completes Adelaide retirement portfolio purchase
ACH Group has completed the sale of a 19-property Adelaide retirement portfolio, marking the exit of the not-for-profit from the small-scale holdings.
As we reported in more detail last year, Aspen Group is the buyer.
The $19 million price reflects a six per cent yield.
The portfolio comprises 129 villas and apartments across about 3.2 hectares, predominantly in inner-metropolitan Adelaide suburbs where median house prices exceed $1 million.
The properties carry a mix of conventional residential leases and retirement village licences (continues below).
The ASX-listed buyer plans to progressively convert the retirement village stock to conventional residential rentals as residents vacate, citing the sub-scale nature of the villages.
The transaction forms part of ACH Group’s broader capital allocation towards larger retirement living and aged-care projects.
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