Overview
Babcock & Brown Communities Group (BBC) is a stapled security which listed on the Australian Securities Exchange on 3 August 2007. BBC is the largest listed “pure play” owner, operator and developer of senior living communities.
BBC was created from the consolidation of Primelife, the PrimeLiving Trust and the Fini Portfolio.
BBC currently owns and manages a portfolio of 56 Retirement Villages and 29 Aged Care facilities across Australia and New Zealand comprising 9,880 retirement living units and 2,256 residential aged care beds. Within the retirement portfolio, BBC has full exposure to the deferred management fees of approximately 6,800 units and receives management fees in relation to the remaining units. In addition to these existing assets, BBC owns a significant land-bank with an identified development pipeline of approximately 2,000 Retirement Village units and 243 residential Aged Care beds, expected to be delivered over the next six years.
BBC is managed by Babcock & Brown who is also a cornerstone investor holding approximately 10% in BBC.
