Australia: EQT acquires Stockland Retirement Living for A$987m

EQT Infrastructure V Fund has acquired Stockland Retirement Living from Stockland Group, one of Australia’s largest diversified property management operators, in a deal that values the provider of community living and support for over 10,000 senior Australians at A$987m (US$716.1m).

EQT Infrastructure is committed to investing in Stockland Retirement Living’s continued growth, broadened service offering, and further strengthening its digital backbone. Stockland Retirement Living has 58 villages across Australia’s eastern seaboard, and a pipeline of 1,300 new units. Demand for high-quality retirement living in Australia has demonstrated consistent strong growth in recent years and as demand for retirement living increases, it is also expected that the growing requirement for higher levels of care services within retirement villages will continue.

EQT Infrastructure was advised by Goldman Sachs and King & Wood Mallesons.

With this transaction EQT Infrastructure V is expected to be 70 – 75% invested.