Nova Castle Pepperfield Retirement Living Fund Announces Financing for A$50 million with LDA Capital

MELBOURNE, Australia, July 28, 2021 /PRNewswire-PRWeb/ -- Nova Castle Investments Pty Ltd, manager of Nova Castle Pepperfield Retirement Living Fund (the Fund), is pleased to announce an agreement with LDA Capital (LDA), a global alternative investment group, to provide an equity investment of A$50 million in the Fund.

Danny Ammavuta, Director and Founder of the Fund, commented on the recent announcement, "We are very excited to work with LDA Capital to ensure the growth of our Fund post-IPO. Having such a high-quality U.S. based institutional investment group as part of our investor base certainly endorses the Fund's strategy and management capabilities."

The LDA Capital investment in the Nova Castle Pepperfield Retirement Living Fund will ensure the acquisition of high-quality retirement living assets to meet the overwhelming demand in this asset class and ultimately meet the objective of approximately 1,230 Independent Living Units by 2030.

It is expected that the number of Australians over the age of 70 will increase from 2 million in 2007 to over 5 million in 2051, about 20% of the population at that time. As a result, there will be a shortage of 280,000 Independent Living Units in Australia. By 2050 it is expected that over 27% of the Australian population will be over 65 years old (compared to the current 12%) seeing a continued demand in retirement living by retires.

To meet this demand in the retirement living sector, further private investment is required. The Nova Castle Pepperfield Retirement Living Fund has been established to acquire, build and operate high quality residential accommodation housing for Australian retirees. The goal of the Fund is to operate over 1,200 Independent Living Units by 2030. To achieve this, a pre-IPO investment of A$35 million remains to be finalised before a listing on the ASX. LDA Capital's post-IPO investment of A$50 million will ensure that the Fund's goal will be successfully realised.

Agreement with LDA Capital:
The capital may be accessed by the Fund by exercising put options under the Agreement at the Fund's discretion. The Fund has agreed to draw down A$50 million over a 3-year period.

Anthony Romano, Managing Partner of LDA Capital, stated, "We are excited to partner with the Nova Castle Pepperfield Retirement Living Fund as it seeks to provide high-quality retirement living housing given the high demand forecasted in Australia over the coming years. Given management's track record in real estate, financial markets, and the retirement age sectors, we are confident in the Company's ability to utilize the A$50 million funds to support its acquisitions over retirement living assets."

About LDA Capital:
LDA Capital is a global alternative investment group with expertise in cross border transactions worldwide. Our team has dedicated their careers to international & cross border opportunities having collectively executed over 200 transactions in both the public and private middle markets across 43 countries with aggregate transaction values of over US$10 billion. LDA has recently completed several transactions across Life Sciences, Media, Technology, Natural Resources, Cyber Security, and Artificial Intelligence.

For more information, please visit: http://www.ldacap.com;
For inquiries, please email: [email protected].

About Nova Castle Pepperfield Retirement Fund:
The Nova Castle Pepperfield Retirement Living Fund has been established to acquire and operate retirement living assets primarily in NSW. The delivery and management deal have a successful and proven track record in delivering high quality retirement living assets in NSW.

For more information, please visit: http://www.novacastle.com.au;
For inquiries, please email: [email protected].

Media Contact

Danny Ammavuta, Nova Castle Investments Pty Ltd, +61 417125865, [email protected]

SOURCE Nova Castle Investments Pty Ltd