EQT has agreed to acquire Stockland Retirement Living from Stockland Group on behalf of its EQT Infrastructure V fund, which closed in November 2021 with €15.7 billion ($18 billion) of capital commitments.
Stockland Retirement Living is one of the largest providers of retirement living in Australia, with more than 10,000 residents in 58 villages spread across Australia's eastern seaboard, and a pipeline of 1,300 new units to be developed in attractive retirement locations.
EQT, which has a well-established track record in the aged-care sector globally, said it will assist in growing Stockland's Retirement Living’s footprint, increasing the range of services provided to its residents and investing in technology and digital initiatives to further improve the company's offering.
The transaction valued Stockland Retirement Living at A$987 million ($708 million).
“Stockland Retirement Living is a clear leader in the Australian retirement living space and