The Living Co “actively looking to double seniors capacity”
Living Co targets major seniors expansion within $100bn strategy
- Scale ambition: $100bn platform targeting residential sectors
- Seniors focus: Plans to double capacity in sector
- Capital strategy: PBSA, BTR and seniors driving growth
- Recent move: $3.85bn Aveo acquisition anchors platform
The reference comes in paragraphs 45 and 46 of a Forbes Australia article featuring founders Craig Carracher AM and Stephen Gaitanos, with Anouk Darling, CEO, Student Living & BTR.
“As well as student accommodation, we’re also actively looking in the market now to double our seniors’ capacity and disability living,” Craig said.
“Our business has set itself a $100 billion target, and we’ve agreed to commit.”
The comment comes 10 months after The Living Co paid an Australian real estate record of $3.85 billion to Brookfield Asset Management for retirement village operator Aveo. The business has also been reported to have gone cold on buying Lendlease's part-ownership of Keyton.
Craig told Forbes that he expects 70-80% of the funding for the target to come from the Purpose-Built Student Accommodation (PBSA), Build to Rent and seniors’ living, as well as new residential streams like land lease, and other residential for rent. Asia is the target for the balance with a focus on Japan, Hong Kong and Korea, while PBSAs in Europe are also of interest.
Aveo was sold with a 3.4 million square-metre portfolio of 10,000-plus units in 65 villages, with more than 3,000 units in its pipeline.
Shortly after the sale of Aveo, RetireAustralia was acquired by Invesco Real Estate for $845 million in August 2025 from its joint owners Infratil and the New Zealand Superannuation Fund.
RetireAustralia had 29 retirement villages across NSW, Queensland and South Australia, comprising over 4,300 independent living units, serviced and care apartments. In addition, the operator had a development pipeline with the potential to deliver up to 800 units across seven projects across Australia.
Noral Wild, CEO of commercial property agency Cushman & Wakefield, told the LEADERS SUMMIT in 2024 that large investors seek a pipeline of five new villages to acquire every year to warrant their research and management time.
That is likely to be a $50-75 million annual investment, DCM Group CEO Chris Baynes wrote.
