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Blackstone bolsters growing Australian retirement home industry

nlv

Blackstone is set to invest A$150 million in

National Lifestyle Villages, a Perth-based firm that specialises in the development of pre-fabricated retirement communities.


National Lifestyle Villages (NLV) made a statement to the effect that Blackstone’s investment ranks as one of the largest single investments in the Australian industry to date.


“NLV’s position as one of Australia’s most significant players in this niche and fast-growing industry reflects years of experience and our ability to meet the growing demand for land-lease communities in our target markets,” said founder and managing director John Wood in the statement.


Blackstone managing director of tactical opportunities in Asia Kishore Moorjani said the partnership with NLV presented the company with an attractive and long-term opportunity to invest alongside a well-respected and successful Australian company.


“Blackstone’s investment follows extensive due diligence and we look forward to providing our global knowledge, expertise and capital to develop this emerging sector in Australia,” he said.


Wood said that the land-lease communities have found a significant market in baby boomers and early retirees, who have a desire to release equity on their homes and move to gated communities which offer greater security.


“NLV continues to work closely with local and State Governments who acknowledge that the land-lease model is proven and privately-funded solution for Australia’s ageing population as well as providing our community residents with impressive lifestyle advantages and benefits,” Mr Wood said.


Currently, NLV’s communities are 2,700-people strong, inhabiting more than 1,800 residences. NLV is planning to increase their stocks to 3,100 homes and 4,600 people as existing communities reach completion over the next few years.


In the short-term, NLV plans to expand by developing a further six communities of about 2,100 homes.

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Article originally posted at: https://theurbandeveloper.com/articles/blackstone-bolsters-growing-australian-retirement-home-industry