Deal: Japara has acquired five aged care facilities in NSW including 507 bed licences, inclusive of assumed refundable accommodation deposit and employee entitlement liabilities.

The deal, which was completed on 1 April 2018, sees Riviera sell its entire NSW residential aged care portfolio.

Value: $53.5 million.

Area: Healthcare, Property.

Key players: Healthcare sector leader Lucille Scomazzon and partner Aaron Kloczko led the Maddocks team, who were supported by members of the firms property group, including Bronwyn Baddock (partner), Angela Tao (senior associate) and Lucy Taylor (lawyer, commercial).

Deal significance: Speaking about the finalised deal, Ms Scomazzon said the firm continues to see consolidation in the aged care sector, as many of the major providers search for opportunities to optimise scale in key markets.

“The sector remains highly-fragmented and the operating environment increasingly challenging for single facilities and smaller groups. Opportunities of a similar size and scale to Riviera Health and comparatively rare in the market,” she said.

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“This deal is the latest example of the trend towards consolidation in the sector, which we expect to continue for the foreseeable future.”