ICAM Diversified Seniors Living Fund
(As at 31 Dec 2023)
(Average over 5 years)
Founded in April 2022, the Fund will target assets in differing stages of their lifecycle, including mature operating assets, newly developed operating assets and may undertake full or partial development of assets where risk adjusted returns are complementary to the Fund.
The Fund has been created to capitalise on Australia’s demographic trends. As the population ages, a generational opportunity is emerging to capture the resulting demand for seniors living accommodation. Combined with a chronic undersupply of seniors living accommodation across Australia the Fund aims to acquire assets via off market transactions at high discount rates and with significant aggregate valuation upside.
The Fund currently has two wholly owned retirement village assets with a total of 276 independent living units and apartments. The seed asset for the Fund was Langton Park, a well-established retirement village located in Adelaide’s eastern suburbs. The Fund’s second asset is The Elms Retirement Estate located in Kilmore in the northern growth corridor of the Melbourne metropolitan area.
The Fund has a strong pipeline of diverse off market acquisitions and intends to build a fund size of $150M-$300M with 10-15 assets nationally.
Currently Open for Investment
Investment Highlights
Investment strategy underpinned by strong demographic tailwinds providing exceptional returns to investors
An open-ended Fund targeting 10-15 assets nationally to reach a fund size of $150M-$300M.
The Fund is targeting a distribution of 7.5% pa (average over five years) paid quarterly to investors.
Target IRR of 12%+, representing an extremely attractive expected return to investors.
