Stockland and Invesco Real Estate have entered into a strategic open-end partnership to develop and hold an initial portfolio of three land lease community (LLC) assets in the newly established Stockland Land Lease Partnership (SLLP1), which is expected to generate approximately A$1.1 billion ($730 million) in gross development revenue.
The partnership, established on the initial basis of Stockland’s 50.1 percent interest and Invesco Real Estate’s flagship pan-Asian core strategy 49.9 percent interest, will include approximately 1,190 homes across three land lease communities at The Gables NSW, Aura 2 (Coves), Qld and Redland Bay, Qld as well as an opportunity for SLLP1 to acquire the land lease community at Providence, Qld.
In line with Stockland’s group strategy, the partnership expands its capital partnership platform and leverages the availability of long-term institutional capital and investment appetite for the Australian residential sector. The partnership
