Folkestone Seniors Living Fund No.1 (Managed by Charter Hall Group)

Overview

The Folkestone Seniors Living Fund No.1 (managed by Charter Hall Group) closed oversubscribed on 22 September 2016. The Fund raised $25.66 million and acquired its first asset, Watermark Castle Cove, an award winning retirement living community on Sydney’s lower north shore, the first asset for its seniors living platform.


Fund Type Closed end unlisted fixed term unit trust (7 year term)
Investment Strategy To achieve superior risk adjusted returns by investing in high quality existing retirement living communities and/or partnering with co-investors to develop and ultimately own such communities in Sydney
Forecast Investor Return

The Fund has a target equity IRR of 15.0% per annum (pre-tax, net of fees) on drawn equity over the term of the Fund

Should the Fund only acquire Watermark Castle Cove, the Fund’s forecast total return is an equity IRR of 11.0% per annum (pre-tax, net of fees) on drawn equity over the life of the Fund

Asset The fund has a 100% interest in 58 existing ILAs, 18 ILAs under construction and 3 to be developed at Watermark, 8b Deepwater Road, Castle Cove, NSW
NTA per Unit $1.09 per Unit (as at 30 June 2018)
Fund Term Expected to be 7 years, Expiring in 2023
FLK Equity Folkestone has co-invested 10% in the Fund

Click here to view Watermark Castle Cove website

Our Board

Richard Gates
Non-Executive Director
B.Econ (Hons)
Stuart Nicolson
Chief Executive Officer – Seniors Living
BA, MBA, GAICD

Our Executives

Stuart Nicolson
Head of Seniors Living
BA, MBA, GAICD
Adrian Harrington
Head of Capital & Product Development
B.SC (HONS), FFINSA, GAICD
Travis Butcher
General Manager, Finance - Diversified
B.Acc, CA, Grad. Dip. AFI SIA
Scott Martin
Head of Finance - Diversified
B.Com, CA
Mark Stewien
Head of Legal - Diversified
LL.B, BCom (Finance)

Investor Centre

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Reports & Publications

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Media

Understanding Australia’s Seniors Living Sector

Australia’s seniors living sector is going to experience increased demand moving forward as more baby boomers begin to wind down […]

NTA

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