Brookfield has sold retirement living provider Aveo to The Living Company, the parent entity of Scape Australia, for A$3.85 billion ($2.5 billion).
Aveo owns and manages a portfolio of more than 10,000 units across 67 retirement villages, primarily in high-value metropolitan suburbs in Australia. With a development pipeline of more than 3,500 additional units and a total footprint of 3.4 million square meters (36.6 million square feet), Aveo is one of the largest and most strategically positioned retirement living platforms in the country.
Allens advised Brookfield on the sale.
“This is expected to be one of the largest transactions in Australia this year and a landmark deal for Brookfield in the local market,” said Chris Blane, lead partner at Allens. “We are thrilled to have supported the Brookfield team on its successful exit, having been involved in advising on the asset since 2019.”
