Proprium Capital Partners to acquire AVJennings for AUD370m.

Proprium Capital Partners, a privately held, real estate-focused principal investing firm, agreed to acquire AVJennings, an ASX-listed Australian home builder, for AUD370m. This follows a competitive process during which a higher bid from Ho Bee Land—a real estate development and investment company specializing in high-end residential properties, commercial buildings, and integrated mixed-use developments—was ultimately not pursued with a binding offer. Despite initially offering more, Ho Bee exited the race, and AVJennings accepted the revised, lower bid from Avid following a four-month due diligence process.