Mirvac Group and Pacific Equity Partners agreed to acquire Serenitas, a pure-play land lease operator, with an established and proven national platform, from GIC, a private equity firm, for $643m. “We are excited at the opportunity to join with Mirvac and PEP, and we are thrilled to be able to grow and elevate the Serenitas portfolio of brands and lifestyle experiences for our customers. There is certainly a growing awareness of modern land lease communities across Australia and the benefits available to customers, which will no doubt drive future demand,” Rob Nichols, Serenitas CEO.