Invesco Real Estate to acquire RetireAustralia from Infratil and NZ Super for AUD845m.

Invesco Real Estate, a global real estate investment company, agreed to acquire RetireAustralia, an owner, operator and developer of retirement villages, from Infratil, an infrastructure investment company, and the New Zealand Superannuation Fund, a sovereign wealth fund, for AUD845m. “RetireAustralia is a quality business in a strong position for future growth under Invesco’s ownership. Since Infratil’s initial investment in 2014, RetireAustralia has undergone significant change, including the appointment of new leadership, a refreshed strategy, and a strengthened development pipeline. Unfortunately, over the same period, the sector has faced a number of challenges, which have contributed to us not being able to fully realise our ambitions for the RetireAustralia business. RetireAustralia is ably led by Chief Executive Dr Brett Robinson, and I’d like to acknowledge and thank the management team for their ongoing leadership and contribution to Australia’s Retirement Living Sector,” Jason Boyes, Infratil CEO.