Regis drops $103.5m on aged care villages
Two of the state’s bigger aged care accommodation providers have traded two Mornington Peninsula investments.
The Village Glen Capel Sound, refurbished 10 years ago, and Village Glen Mornington, completed in 2018, are collecting a total $35.5 million from Regis Healthcare.
Charles Jacobsen is the seller.
Regis will contribute another $68m taking on the Refundable Accommodation Deposit (RAD) liabilities.
Settlement is scheduled December 2.
Regis invests $103.5m on the peninsula
With 170 beds, the Capel Sound asset is speculated to be costing $23m.
The Mornington property meanwhile abuts the state’s largest community village, with 635 villas and apartments, which Mr Jacobsen retains (story continues below).
Containing 92 beds, it is understood to be costing Regis c$12.5m.
Both prices exclude the RAD refunds.
The blended occupancy is 96 per cent.
“We are excited to add these quality homes to our portfolio and broaden our footprint in Melbourne,” Regis chief executive officer, Linda Mellors, said.
“We look forward to welcoming the residents, families, employees and communities to Regis and ensuring a seamless transition of services,” she added.
Following settlement, Regis will own and operate 69 homes.
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