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Lend Lease Retirement Living

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Lend Lease Retirement
Company typeStrategic Business Unit
IndustryRetirement
Founded1992
HeadquartersMelbourne, Australia
Websitewww.lendlease.com

Lend Lease Retirement (formerly Primelife, Lend Lease Primelife and Babcock and Brown Communities) is part of the Lend Lease Group.[1]

Lend Lease Retirement constructs, develops, owns and manages retirement villages and other senior living facilities.[2] It is listed on the Australian Stock Exchange and has a market capitalisation of $160 million.[3] The company offers pre-sold developments and sells units to prospective residents and manages those facilities for a fee.

Lend Lease Retirement has over 70 operating retirement villages and aged care facilities across Australia and New Zealand as at September 2011, with fourteen new projects under construction, development and planning. More than 6500 residents live in Lend Lease Retirement facilities.

The company provides "Independent Living Units" and "Independent Living Apartments" to seniors which provides an independent lifestyle to residents while affording a secure location, companionship through the retirement village community and social activities and 24 hour emergency assistance. It also provides "Assisted Living Serviced Apartments" which provide cleaning, cooking and laundry services.

History

On 13 August 2007 the company restructured and changed its name to Babcock and Brown Communities.

In 2010, Babcock and Brown was acquired by Lend Lease, with the business rebranded as Lend Lease Primelife.[4]

In 2011, Lend Lease moved to a single entity platform, with all business units adopting the name Lend Lease for consistency.


References

  1. ^ http://www.lendlease.com/en/Group/Lend-Lease/Worldwide/About-Us.aspx
  2. ^ http://www.lendlease.com/en/Group/Lend-Lease/Australia/Sectors/retirement-senior-living.aspx
  3. ^ http://www.lendlease.com/en/Group/Lend-Lease/Australia/Sectors/retirement-senior-living.aspx
  4. ^ http://www.lendlease.com/en/Group/Lend-Lease/Australia/Sectors/retirement-senior-living.aspx
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