Avalon, I'm mildly bullish on Aveo but as a bull, you take the...

Avalon, I'm mildly bullish on Aveo but as a bull, you take the blue ribbon at the Royal Easter Show.

I see where you are going with the value per unit, and not a bad idea to demonstrate, but the figures aren't as you represent. Leaving aside the US RV's as they are merely an asset waiting to be sold, the FY18 presentation appendix notes show (that even after you add in the Aveo Healthcare units where we only own 88%) the totals are ILU's 8,865, Serviced Apartments 1,598 and Aveo Freedom SA's of 1,254 for a total of 11,717 plus some 406 care beds.

But then again, there is significant extra value in the pipeline. I'm not quite sure how you would represent this as cost or investment per unit, but the buying of $3.92 in assets for a measely $1.55 or so is hard to ignore...no matter what MKR, our resident 'lemon-drop', might say. Just joking MKR, put you gun back in the holster!