Two Launceston aged-care facilities have been purchased by Gold Coast real estate company Eureka Group.
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Ingenia Gardens Elphinwood and Ingenia Gardens Launceston will come under the real estate giant’s control after it purchased five Tasmanian aged-care facilities for a total of $18 million.
Two of the other aged-care centres purchased are located in Hobart, while one is located in Devonport.
All five are owned by Ingenia, with a total of 254 units between them.
Ingenia chief executive Simon Owen said the sale was in line with the company’s strategy to “divest non-core villages” in order to purchase other developments considered to have higher growth potential.
“This divestment is consistent with our stated goal to internally fund the build-out of our sector leading development pipeline of over 2800 new homes and 270 rental and tourism cabins,” he said.
Eureka owns 32 aged-care villages across the country, with a further nine under its management.
The ASX-listed company announced a $102,000 loss over the first half of the 2017-18 financial year.
The transaction will be completed in April.