Seniors Living Fund No.1

Overview

The Folkestone Seniors Living Fund No.1 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 and the Folkestone Seniors Living Fund No.1.


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
Initial Offer Price per Unit $1.00 per Unit
Fund Term Expected to be 7 years
FLK Equity Folkestone has co-invested 10% in the Fund

Click here to view Watermark Castle Cove website

Our Board – Folkestone Real Estate Management Limited

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

Our Executives – Folkestone Real Estate Management Limited

Stuart Nicolson
Chief Executive Officer – Seniors Living
BA, MBA, GAICD
Ben Dodwell
Head of Real Estate
BA (I.D.), Grad. Dip. App. Fin. SIA, DIP PROP FIN, MAICD
Adrian Harrington
Head of Funds Management
B.SC (HONS), FFINSA, MAICD
Travis Butcher
Chief Financial Officer – Funds
B.Acc, CA, Grad. Dip. AFI SIA
Scott Martin
Chief Financial Officer & Company Secretary
B.Com, CA
Mark Stewien
General Counsel
LL.B, BCom (Finance)

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