Aware Super to acquire 25% in Lendlease retirement living business

19 February 2021
| By Jassmyn |
image
image
expand image

Aware Super has entered into an agreement to acquire a 25% interest in Lendlease’s retirement living business.

An announcement from the two firms said the acquisition included ownership of the retirement village portfolio and its associated operating platform, as well as its development capabilities and associated pipeline. The retirement living business would continue to operate under the Lendlease brand and the network of retirement villages will continue to be managed by retirement living.

Lendlease would hold a 50% interest in the retirement living business with Dutch pension asset manager, APG Asset Management, and Aware Super each holding a 25% interest.

Aware Super chief investment officer, Damian Graham, said: “Following the impacts of bushfires, drought and COVID-19, we have seen a strong uplift in Australians considering the safety, security and affordability of retirement living.

“This investment aligns with our overall property strategy which has an increased focus on the residential - including affordable housing, multi-family and retirement living – and industrial sectors.

“Investments such as this support Aware Super to do well for our members in terms of strong, sustainable, long-term returns while doing good in the communities where they live, work and retire.”

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

17 hours 47 minutes ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 3 days ago