Oxford is part of the Canadian global pension investor OMERs, and has reportedly made an offer for the Brookfield-owned retirement village operator.
Oxford is also behind the Indi Build to Rent brand in Melbourne and Sydney and has a 50% stake in the $13 billion real estate business Investa.
The Weekly SOURCE last month reported leading student accommodation developer Scape had joined property investment company Charter Hall in vying for the second largest retirement village operator in Australia.
The Australian reported the three bidders would need joint venture partners for their offers to assist with funding.
Aveo, led by CEO Tony Randello, was the nation’s leading retirement village operator before selling its South Australia portfolio and putting up its two Tasmanian villages for sale to become an East Coast operator and a better proposition to sell.
Brookfield put Aveo for sale in June last year. It holds 6% of the retirement living sector and operates with a $1.6 million average median house price, higher than its competitors, enjoys high operating margins from 100% capital gains contracts, and has a 94% occupancy rate, bidders have been told.
Brookfield agreed to buy Aveo in August 2019 for $1.27 billion and settled in December 2019. It has been the effective owner for three years and eight months. This means Brookfield will have doubled its money out of the deal.
Browse Aveo's retirement villages on the #1 website villages.com.au.
