News and Announcements
Folkestone Seniors Living Fund No.1 Now Open for Investment
- Published August 08, 2016 3:07PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
FSLF is well positioned for growth from the acquisition of Watermark Castle Cove, an award winning retirement living community on Sydney’s lower north shore, that is to be expanded (Initial Asset) and to acquire other high quality retirement living communities which may comprise both existing facilities and/or development opportunities in Sydney. Castle Cove is located approximately 12 kilometres north of the Sydney CBD.
The key investment highlights of the Fund include:
Exposure to Key Sector
– seniors living is a key and growing part of the economy
– ageing population is focusing on quality retirement accommodation
Strong Demographics
– underpinned by ageing population
– positive demand for seniors living products
Attractive Returns
– targeting 15% IRR (pre-tax, post fees) over life of Fund
Experienced Partners
– partnering with key strategic developer/operators focusing on high quality, facilities with an excellent service culture
Quality Assets
– relatively new retirement living communities located in Sydney
Off Market Opportunity
– initial asset has been acquired off market via Folkestone’s network
The Final Close of the Offer will be the earlier of 9 September 2016 and the date when the total of the capital has been raised. The Fund has an expected term of 7.0 years.
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