Agent.sg / Property news / Keppel unit buys 50% of Watermark Retirement Communities for $117.59m

Keppel unit buys 50% of Watermark Retirement Communities for $117.59m

Fresh property news selection on March 03. 2020, Tuesday.

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It has now been converted into a Delaware limited liability company.

Keppel Capital Senior Living (KC Senior Living), an indirect wholly-owned subsidiary of Keppel Corporation, has completed its 50% acquisition of total equity interests of senior housing firm Watermark Retirement Communities (WRC), a local bourse filing revealed.

The aggregate purchase price is $117.59m (US$84.6m), after it was adjusted from approximately $107.44m (US$77.3m) to account for the sellers being solely responsible for future capital call obligations relating to the Minority JV Interests.

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