Folkestone Seniors fund in high demand

By Carolyn Cummins
Updated September 24 2016 - 2:14am, first published September 23 2016 - 11:45pm
Watermark Castle Cove, the seed asset for the Folkestone seniors fund. Photo: Watermark Castle Cove
Watermark Castle Cove, the seed asset for the Folkestone seniors fund. Photo: Watermark Castle Cove

The Folkestone Seniors Living Fund No.1 has closed oversubscribed after raising $25.66 million and acquiring its first asset, Watermark Castle Cove, a retirement living community on Sydney's lower north shore. Folkestone's managing director Greg Paramor said the success of the first capital raising in the seniors living sector demonstrates investors' appetite for quality real estate investments and supports Folkestone's move into seniors living. "We believe that the ageing population and the growing acceptance of retirement living communities as a quality housing option for Australia's ageing population will drive the demand for seniors living communities moving forward," he said.

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