Babcock & Brown Communities Group (BBC)

Shares / Stock Code

BBC

Stock Exchange / Sharemarket

ax

Babcock & Brown Communities Group (BBC) is engaged in the ownership, operation and development of senior living communities. The Company's portfolio encompasses 56 retirement villages and 29 aged care facilities spread across Australia and New Zealand including about 10,000 retirement units and 2,200 residential aged care beds. BBC's retirement portfolio provides it with an access to the deferred management fees of around 6,800 units, with rest of the units providing it the management fees. Babcock & Brown Communities Group listed on the ASX on 6th of June, 1991. BBC focuses its development activities through three business divisions: Retirement, Aged Care Facilities and Development and Construction. Retirement division includes the operation of retirement villages. Aged Care Facilities includes the operation of aged care facilities, comprising hostels and nursing homes. Development and Construction includes the construction and marketing of senior living facilities. The responsible entity of the Babcock & Brown Communities Group is Babcock & Brown. BBC aims at providing its investors with steady and diversified income streams, high returns, growth opportunity as well as an exclusive exposure to an emerging residential property market.

Babcock & Brown Communities Group History

Babcock & Brown Communities Group was initially listed on the ASX in 1987 as Primelife (PLF). In 1992, it entered the retirement market through acquiring 50% equity in a joint venture for the development and operation of the Port Phillip Retirement Village in Altona. In 1995, it obtained the complete rights to the development. Since then the company has been engaged in the development and acquisitions of a number of facilities, which has made it one of the largest providers of aged care residences across Australia. The Company adopted its present name in August 2007.