Margaret Profke and her four sons have sold out their four aged care facilities with 587 beds for a net $79.5 million to Japara who achieve their goal to move into QLD. A registered nurse, Margaret established the business on the Gold Coast 30 years ago.

The sale is proving the rapid corporatisation that is occurring in aged care. This sale was executed by Phil Smith, Shane Nicholson and Chris O’Driscoll of Colliers International. They point out that over the past two years they have traded over 2,000 beds.

In those figures are the Hutchinson family’s three aged care assets sold to Estia for $80 million, the Wheelan portfolio sold to Japara for $40 million and the Bonney family business to Infin8 Aged Care for $45 million.