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MEDIA RELEASE: ASX listed group Arena, partners with disability service provider SACARE

Disability service provider SACARE is excited to announce our new strategic partnership initiative with Arena REIT. An ASX listed group that owns, manages and develops social infrastructure property assets across Australia. This partnership ensures that SACARE can focus on its core business of providing high-quality accommodation and support services to people with disabilities, as well as providing long-term security and sustainability.

This strategic partnership will enable SACARE to provide significant added investment into the company, its residents and 500 plus employees. It also gives Adelaide founded company a solid base from which they can identify future development projects, creating further world-class accommodation for people living with disabilities.

SACARE’s focus steadfastly remains on providing the very best care to its residents, all within world-class accommodation. Their new partnership with Arena strengthens that focus.

For SACARE it is business as usual, with the added comfort of financial security well into the future.

Commenting on the acquisition, Arena’s Head of Property, Mr Rob de Vos said “We are pleased to have acquired this portfolio of high quality, specialised high care facilities which enable people with a disability to live enriched and fulfilled lives.”

Commenting on the partnership, SACARE’s Chairman Andrew Marshall and Technology and Development Manager Alex Marshall said “We look forward to working with Arena as a long term real estate capital partner, allowing us to focus on our core services of delivering high quality care to our clients.”

Arena has purchased several supported independent living properties including SACARE’s latest property, The Gums in Salisbury which opened end of 2018. The property is located in Salisbury and more information about The Gums can be found at www.sacare.com.au/thegums

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Enquiries to Chloe Kempe:

0411 489 064

chloe.kempe@sacare.com.au


 

We understand that you may have questions about this acquisition and partnership, see below for some more information.

Why has SACARE sold these three properties?

The sale and long-term leaseback of these properties enables SACARE to focus on our core business of providing the very best care and support services for people living with disability. We invest in people, not real estate. Importantly, the partnership ensures we can provide significant added investment into SACARE, our residents and employees.

Which properties have been sold?

Arena REIT has purchased Barton House, Briarholm and The Gums from SACARE, and we have entered into a long-term leaseback arrangement to ensure their long-term use for our residents.

What impact will there be on SACARE’s residents?

Our residents will not be impacted by this partnership, and our focus on providing high-quality care to them remains our number one priority. Our residents will continue to receive the very best care from our wonderful team and their future in SACARE accommodation is assured.

Will the cost to our residents increase?

No. Our prices will remain in line with the NDIS pricing framework for all our services being delivered, and there will be no impact to the costs of our services, from our partnership with Arena.

What impact will there be on SACARE’s employees?

It is business as usual for all of us at SACARE. There is no short or long term impact for any of our team, who will continue to provide extraordinary support services to everyone in our care.

 

 




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