Here we were thinking retirement village owner Aveo Group’s $3.85 billion sale was one of the M&A deals of the year, and most certainly Australia’s property deal of the year.
At the reported $3.85 billion, it was big enough to be the largest direct real estate transaction ever in Australia and involved 12,000-odd retirement apartments and 67 villages transferring to a relatively new and unknown player, The Living Co. The biggest talking point in property is that one Korean pension fund stumped up the entire $2 billion-odd equity cheque.
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