KWM has advised Swedish Investor EQT Infrastructure (EQT), on its purchase of Stockland’s retirement living business. The $1 billion acquisition includes a portfolio of 58 established Retirement Living villages and 10 projects that are currently underway.
In addition to the sale, the transaction also includes arrangements for an ongoing partnership between EQT and Stockland for future growth opportunities.
The KWM team was led by partners Mark McNamara and Anthony Boogert. Yuen-Yee Cho’s team led the debt financing for the transaction.
Additional support was provided on tax by Tim Sherman’s team and the separation arrangements by Melissa Miller.
Commenting on the transaction, Anthony Boogert said “The combined effects of the pandemic and an ageing population are expected to drive demand for retirement villages, particularly those that focus on resident care. We are thrilled to have supported EQT with their investment into this increasingly important area of the Australian economy.”
Mark McNamara also noted “This transaction is the fourth deal for the EQT Infrastructure team in Australia/NZ in the last couple of years and we are proud to have had a role on each of them. We look forward to continuing to work with the EQT team in Australia and Asia as they continue to expand here and elsewhere in the region.”
