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Yes but this impacted the banks through the landlords who leased to ABC. There were heaps of mortgagee auctions of childcare centres since the collapse which has led lenders to caution against them as acceptable securities.

I guess it really depends on what the configuration of the childcare centre was. Some are better than others so it becomes less specialised.

It's because after the GFC the banks were losing a lot of money on childcare centres because lots of them went bust (ABC Learning etc). The numbers on the childcare centres don't really work that well since they are reliant on government funding so funders don't think it is worth that much.

The catch is that they are considered specialised securities (like petrol stations) and hence are harder to finance.