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Senior Trust Announcement
Senior Trust Announcement
We are pleased to confirm that the Senior Trust Retirement Village Listed Fund (the Fund) has committed to making a first mortgage advance in respect of a retirement village located in Keri Keri, Bay of Islands.
Quail Ridge Country Club is a retirement village development which has been designed to meet the expectations of buyers at the top end of the market.
The Fund now has three first mortgage advances, which include, Whitby Village (2009) Limited, in Wellington and Palm Grove Retirement Village, located in Orewa, Auckland.
The loan will be up to a maximum of $2 million. The interest rate on the loan will support the Fund achieving its targeted distribution rate of 6%* before tax.
The Fund continues to investigate loans to other carefully selected, well located and soundly run retirement villages and aged care facilities. The Fund limits loans to a maximum of 60% of the value of the retirement village or aged care
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