Radius Care has announced the sale of its Arran Court facility in Te Atatu, Auckland for approximately $19.0m.
The sale includes the business and the freehold property, with settlement planned for January 16, 2024.
The sale is conditional on ASB approval and the purchaser completing due diligence, obtaining finance, and regulatory approvals by November 30, 2023.
The sale proceeds will be used to repay existing debt, contributing to the company's debt management program.
The company assures a smooth transition and continuity of care standards for residents and their families.
Radius Care operates in the New Zealand aged care and retirement village sectors, with 24 facilities across the country.
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