Resthaven and Eldercare Join Forces to Acquire Aveo’s South Australian Retirement Living Portfolio

Today, Resthaven CEO, Darren Birbeck and Eldercare CE, Jane Pickering, are pleased to announce their successful bid to acquire Aveo’s South Australian Retirement Living Portfolio, consisting of 1,033 units across 13 communities.

Resthaven and Eldercare worked together to acquire these villages and are very pleased to have the ownership transitioned to two well respected South Australian organisations.

In this collaborative bid, Resthaven will acquire 799 units across eleven villages, with Eldercare acquiring the remaining 234 units over two villages.

‘The acquisition will increase Resthaven’s retirement living portfolio substantially, adding to our suite of options for older people. The acquisition complements Resthaven’s strategy of planned and considered growth and includes the transfer of approximately 90 home care recipients,’ Darren explains.

Jane adds, ‘This partnership demonstrates the respect and commitment from two values driven organisations that provide exceptional services to the South Australian community.’

‘With the addition of Carisfield in Seaton and The Braes in Reynella, Eldercare’s Retirement Living portfolio will expand in two new areas that are located close to existing Eldercare Residential Aged Care Homes.

‘This acquisition gives certainty to Aveo residents and staff, who will be welcomed to Eldercare and Resthaven respectively.’

Resthaven and Eldercare will work with Aveo over coming months to ensure that the transition of residents, clients and staff is seamless, ahead of settlement in November.

Jane and Darren advise ‘Over the next few months, we will work together to answer any questions the Aveo residents may have about the sale.’

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