21 August 2023
Altis supports Aware Super in the full ownership of Oak Tree Retirement Villages
Aware Super is now one of Australia’s largest owners of retirement living assets after taking full ownership of Oak Tree retirement villages which currently houses more than 1,900 residents and has a portfolio of 48 villages with c.2,550 independent living units (ILUs) in operation or development along the Eastern Seaboard.
The team at Altis Property Partners, a Barings Company offered a strategic review of Oak Tree Group and continues to support the management team as it embarks on this significant growth trajectory. The platform has a significant secured development pipeline, mostly DA approved and ready to build.
Alastair Wright, Director Altis Property Partners said:
“We have been working with Aware Super for over a decade and during this time we have built a deep working relationship of collaboration and trust. There is value add upside in the existing villages and significant tailwinds in the sector with favourable changing demographics of an ageing population, and with a maturing asset class, offers institutional investment demand.”
By acquiring the remaining 30% in Oak Tree Group, Aware Super has extended its $5 billion exposure in the living sector globally, which includes its current $850m commitment in the Build-To-Rent sector in Australia, and large investments in the United States, United Kingdom, The Netherlands and Spain.
Read the full press release, click here.
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