Land lease developer Serenitas could be snapped up by Stockland before the year is out, with an $800-million-plus deal reportedly on the table.
As reported in The Australian, sources have indicated a deal by Stockland to buy the entirety of Serenitas – which is 95% owned by Singaporean investment firm GIC, and 5% by founder and CEO Rob Nichols (pictured) – could be agreed to by the end of the year, with the sale being handled by advisors Jarden.
Serenitas has reportedly been looking for a buyer since September, while Stockland has been expanding its land lease portfolio following its $620 million purchase of Halcyon in July 2021.
At the same time, Stockland, formerly Australia’s second largest retirement living operator after Lendlease, has divested entirely from traditional retirement villages, selling its Retirement Living division – rebranded as “Levande” – to EQT in August.
