Invesco Real Estate (IRE) has entered into definitive documentation to acquire 100 percent of RetireAustralia, a leading owner, operator and developer of retirement villages in Australia for A$845 million ($550 million).
IRE will acquire RetireAustralia from Infratil and the New Zealand Superannuation Fund, each of which hold a 50 percent interest in RetireAustralia. Both shareholders’ interests are managed by infrastructure investment manager Morrison.
“The acquisition of RetireAustralia represents a unique investment opportunity to expand Invesco Real Estate’s presence in Australia’s rapidly growing senior living sector,” said Calvin Chou, head of Asia Pacific, IRE. “The country’s aging population, coupled with their rising wealth, is driving demand for alternative aged care solutions, and RetireAustralia’s care-centric operating model is well positioned to meet this need. This investment aligns with our objective of diversifying our portfolio with hi
