LDK Seniors’ Living has announced Anglican Community Services trading as Anglicare Sydney has today acquired a 50% interest in LDK from Cromwell Property Group (Cromwell), with the remaining 50% of LDK Healthcare remaining with Aspire Group.
LDK CEO Byron Cannon said Anglicare’s investment would allow LDK to put into action its plans to significantly grow its seniors’ living communities in the coming years.
“Anglicare’s investment in LDK is a very strong validation for our model and represents a transformational shift in the seniors living industry. It allows us to plan our villages in response to the sector demand, and cater to the discerning expectations of future residents,” he said.
In a statement, Anglicare Sydney’s CEO Mr Simon Miller sees the acquisition as a natural implementation of its present investment strategy. Mr Miller said, “Our investment in areas that we have aligned with strategy and have extensive experience in makes good sense. This opportunity to join in a partnership at LDK with Aspire is a good fit for Anglicare.”
“For more than 160 years, Anglicare has sought to provide excellence in aged care and retirement living, but also to serve those in need, render assistance to the vulnerable, to ensure that all are cared for with dignity and respect. Our values and Aspire’s values align, and we look forward to partnering with them to deliver exceptional service for LDK’s current and future residents.” Mr Miller added.
Also commenting on the sale, Aspire Managing Director and LDK Founder Paul Browne said: “We are proud of what we have accomplished with Cromwell over the past four years and look forward to continuing to deliver villages where our residents feel a true sense of belonging in this new chapter with Anglicare.”
Mr. Cannon said despite the impact of COVID on the industry, LDK has plans for a number of new seniors’ living villages. A second village in the ACT is to be announced soon.
“Since our inception, the well-being of our residents has been our foremost priority, and this commitment was especially paramount throughout the pandemic. We are very proud of the outcomes we have achieved, and the resounding positive feedback we consistently receive from residents, family and industry alike. We are very pleased to now be able to realise our growth plans to meet the increasing demand for our services,” Mr. Cannon said.
The management and operations of the LDK Healthcare portfolio remain unaffected by the acquisition