Property and infrastructure funds manager ICAM, led by Managing Director Freddy Bartlett (pictured below), has bought Langton Park in Campbelltown, 8.7km northeast of Adelaide, and The Elms Retirement Estate (main photo) in Kilmore, 65km north of Melbourne's CBD, with a total of 276 units.
With funds approaching $1 billion, ICAM is looking to continue to buy "mature, well located retirement villages to produce excellent long-term returns underpinned by residential property markets and
growing demand".
Retirement Living Council Life Member and ICAM Co-Founder Jim Hazel, has told us ICAM is strong on the village business fundamentals.
"We have developed a five-year capital expenditure plan and streamlined refurbishment and resale process to the benefit of both sellers and buyers,” he said.
"The occupancy is at a maximum and record unit prices have been achieved at both villages."
Jim is on the board of ICAM, along with retirement village veteran Jenny Clancy, Tigcorp's General Manager Retirement. It established a seniors' living fund in April last year and manages investments in retail, office, industrial and infrastructure.
Jim is also Chairman of land lease operator Ingenia Communities and a COTA board member.
