Meridien Group and AMP Capital Investors can expect to make between $100 million and $150 million from the sale of 12 South Australian retirement villages.
The portfolio includes 946 retirement village units, and 246 serviced apartments. The joint venture owners confirmed it will accept off-market offers on the assets as a whole, or individually.
The joint venture owners will retain villages in New South Wales and Queensland. Meridien has been on a spending spree since 2006, according to the AFR, buying other aged care facilities throughout New South Wales and Queensland independent of AMP.