Summerset moving ahead with Australian expansion plans

Mon, 23 Sep 2019

By Rebecca Howard Sept. 24 (BusinessDesk) - Summerset is moving ahead with its expansion plans across the Tasman and said it has purchased its first land in Australia. It did not disclose a price, citing commercial sensitivity, but said the acquisition and subsequent development will be funded from existing bank facilities. The retirement village owner and operator had a bank facility of $500 million with undrawn capacity of $235.7 million as of June 30. Summerset's move to Australia follows in the footsteps of Ryman Healthcare whic...

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