Blackstone announced that funds it manages entered into an agreement to acquire a retirement village portfolio in New Zealand from Lendlease. The portfolio comprises five fully completed villages, four in Auckland and one in Mt Maunganui. Financial terms were not disclosed.
AUCKLAND, New Zealand–(BUSINESS WIRE)–Blackstone (NYSE:BX) today announced that funds it manages on behalf of its investors have entered into a definitive agreement to acquire a retirement village portfolio in New Zealand from Lendlease, a leading, fully integrated, international property and infrastructure group. The portfolio comprises five fully completed villages, four in Auckland (the Knightsbridge, Mayfair, Parklane and Peninsula Club) and one in Mt Maunganui (Ocean Shores). Financial terms of the transaction were not disclosed. The transaction is expected to close in the next several months pending relevant regulatory approvals.
Lendlease is a leading international property and infrastructure group. Listed on the Australian Securities Exchange and with circa 13,700 employees worldwide, Lendlease’s capabilities span the property value chain.
In Australia it offers development management; investment management; project management & construction and asset & property management. Its expertise covers multiple sectors including commercial, residential, retail, retirement and infrastructure.
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