AUSTRALIA | RetireAustralia and its portfolio of 29 retirement villages have been sold to Invesco Real Estate for AUD 845 million.
Invesco Real Estate, the global real estate investment business of Invesco Ltd., has announced it has entered into definitive documentation to acquire 100 percent of RetireAustralia, a leading owner, operator and developer of retirement villages in Australia for AUD 845 million.
Invesco Real Estate will acquire RetireAustralia from Infratil and the New Zealand Superannuation Fund, each of which holds a 50 percent interest in RetireAustralia. Both shareholders’ interests are managed by infrastructure investment manager Morrison.
Calvin Chou, Head of Asia Pacific for Invesco Real Estate, said the deal had offered growth and expansion possibilities for Invesco Real Estate’s foothold in Australia.
“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 Chou.
“The country’s ageing population, coupled with its 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 high-quality assets, enabling us to consistently deliver robust income and capital growth.”
As one of the largest players in Australia, RetireAustralia owns and operates 29 senior living villages across New South Wales, Queensland and South Australia, comprising over 4,300 independent living units, serviced and care apartments. In addition, it has a robust development pipeline with the potential to deliver up to 800 units across seven projects across the country.
Dr Brett Robinson, Chief Executive of RetireAustralia, said the acquisition would create a stronger future for the company.
“Invesco Real Estate’s focus on long-term investment trends, combined with its strong track record of investing in the senior living sector across South Korea, Australia, and the US, positions it as an ideal shareholder and partner for RetireAustralia,” said Dr Robinson.
“By working together, I believe we will create thriving communities where more older Australians can live and age well, meeting the country’s growing need for high-quality seniors housing and care as we address evolving demographics.”
The transaction is subject to regulatory approval and is expected to be completed in the final quarter of the 2025 calendar year.
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