Hometown Australia increases stake in Lifestyle Communities
Hometown Australia ups bet on Lifestyle Communities
- Stake lifted: Hometown increases holding to 13.24%
- Market confidence: US operator backing Lifestyle’s recovery story
- Victoria entry: Hometown recently launched Lumora at Mickleham
- Global interest: Land lease sector continues attracting offshore capital
The Australian arm of the US over-55s and all-age communities owner/operator Hometown America has expanded its investment in the Victorian-based land lease operator.
The Weekly SOURCE reported in March this year that Hometown Australia had acquired a 10% stake in the ASX-listed Lifestyle Communities, which is still seeking to recover from the ABC 7.30 attack in July 2024 and the VCAT ruling 12 months later.
Now Hometown Australia has increased its stake to 13.24% after purchasing further shares.
Hometown Australia owns and operates 60 land lease communities in NSW, Queensland and South Australia. The operator announced in February that it had expanded its portfolio into Victoria with the launch of an Over 55s lifestyle community, Lumora.
“Hometown Australia is thrilled to be making our inaugural entry into the Victorian market with the launch of Lumora by Hometown Australia in Greater Melbourne’s fastest-growing new city, Merrifield in Mickleham,” said Kevin Tucker, Joint Managing Director at Hometown Australia, at the time.
The land for Lumora was purchased from Lifestyle Communities.
