Babcock & Brown Communities Group (BBC)

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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.

Lend Lease Plans to Buy B&B Communities

Lend Lease plans to expand its business in retirement homes. As Australia's population is moving quickly into the grey region, the company sees growth prospects in the business. It plans to takeover Babcock and Brown's listed funds to break away B&B Communities (BBC) from its parent company. Lend Lease was listed as one of the prospective buyers of 6.18 percent substantial stake for Babcock and Brown Communities, which owns substantial number of retirement homes and aged-care facilities.

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