Way of life Communities will increase debt facility to $525M

Way of life Communities has elevated its debt facility by $150 million in an effort to fund future development.

The land lease operator now has a complete debt facility of $525 million from CBA, NAB and HSBC, divided into three tranches: $110 million expiring in June 2025, $265 million expiring in August 2026, and $150 million expiring in October 2027.

In accordance with Way of life Communities Managing Director James Kelly (pictured), the corporate expects to ramp up utilisation of its debt facility over the following 5 years.

“Growing the ability measurement will present further capability to help with future land acquisitions and growth prices.

“Our capital administration initiatives will stay an ongoing precedence as we search to proceed the sustainable development of Way of life by buying as much as three new websites each 12 months,” he stated.

Way of life Communities final increased its debt facility in August 2021 to fund its shift from two to 3 web site acquisitions per 12 months.