The investment will help Oak Tree expand and accelerate new developments, with 2,000 additional living units to be added over the next five years, Blue Sky stated.
The group currently has six villages with nine more under development, including two village extensions and two village acquisitions and conversions. It plans to add three to five new villages per annum thereafter.
Blue Sky’s Sydney office managing director Andrew Champion said the company is well placed to take advantage of a growing need for retirement living units.
“Oak Tree Group is one of the only scalable corporate operators in the under-serviced regional affordable niche. We are impressed with their focus on this niche and their discipline across the full value chain from site selection and development through to sales and the perpetual operation of the villages. Oak Tree’s business model is underpinned by both development profits and a growing bank of tangible assets with an annuity style revenue stream,” he said.
Blue Sky managing director Tim Wilson will join the Oak Tree board.
