Thomson Geer has advised Aspire LDK on a deal that saw its joint venture partner sell its half interest in seniors’ villages owner and operator LDK Healthcare for A$20 million.

Led by Partner Emma Cook, the Thomson Geer team assisted Aspire on the deal that saw original partner Cromwell Aged Care divest its share of LDK Healthcare to Anglicare Sydney.

“We were pleased to work with Aspire as it welcomed Anglicare Sydney as its new joint venture partner,” said Emma, who was supported by Partner Philip de Haan and Senior Associate David Campbell.

The LDK joint venture includes seniors’ living villages in Canberra and Sydney and another under development in Canberra.

Thomson Geer advised Aspire on all aspects of the deal that affected it, including unitholder arrangements, trust documentation and the sale documentation.

Cromwell said in a statement it was exiting the joint venture as it was the right time for Anglicare to become a partner on future developments.

Aspire Managing Director and LDK Founder, Paul Browne said in a statement: “We are proud of what we have accomplished with Cromwell over the past four years and look forward to continuing to deliver villages where our LDK residents feel a true sense of belonging in this new chapter with Anglicare.”

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