Stockland, a diversified Australian property development company, agreed to acquire Halcyon Group, a land lease operator and developer, for $458m. "This acquisition is in line with our stated strategy to grow our land lease communities and will increase the size of our portfolio to 7.8k sites. Land lease communities deliver attractive returns as the demand for high quality, affordable housing solutions grows. This demand is driven by Australia’s aging population and baby boomers reaching retirement age," Tarun Gupta, Stockland Managing Director and CEO.