Eureka Group Holdings Limited (EGH), through a joint venture with a group of private investors, has boosted its portfolio, acquiring five seniors’ rental villages in Tasmania.

The villages, which were purchased from Ingenia Ltd are Claremont Gardens and Glenorchy Gardens in Hobart; Launceston Gardens and Elphinwood Gardens in Launceston; and Devonport Gardens in Devonport – a total of 254 units.

“This is our first foray into Tasmania and the purchase strengthens our position in the southern states and leverages our operating base in the region,” CEO Jeff Weigh said.

The villages will be managed by the joint venture and the purchase will not have an impact on existing residents or staff as the group’s existing rental model matches EGH’s rental operating model.

Eureka now has 32 owned villages and nine villages under management.