Brookfield to sell Australian senior housing platform Aveo for $2.5 billion
Representative Image BENGALURU: Brookfield Asset Management will sell its Australian retirement home operator Aveo to The Living Company for A$3.85 billion ($2.5 billion), the Canadian company said on Thursday. Aveo owns a portfolio of more than 10,000 units located across Queensland, Victoria, New South Wales and Tasmania. Since acquiring Aveo in 2019 for an equity value of about A$1.27 billion, Brookfield simplified the platform’s customer contracts and invested more than A$500 million across the business. “Aveo is a prime example of the operations-led turnaround investing that we excel at,” said Lowell Baron, Brookfield Real Estate CEO, and added the company…