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Gaw forms joint venture to buy, build A$600M Australia retirement living assets

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Gaw forms joint venture to buy, build A$600M Australia retirement living assets

Hong Kong-headquartered private equity fund manager Gaw Capital Partners is teaming up with Brisbane, Australia-based GreenFort Capital to purchase and develop retirement living facilities worth a total of A$600 million, The Australian Financial Review reported.

GreenFort will expand its Reside Communities retirement living subsidiary to hold 1,500 units through the partnership, with the units to be spread across the Australian east coast, according to the Dec. 12 report.

Reside Communities owns a 5.5-hectare land plot in Samford Village in the Down Under state of Queensland, which contains 27 independent living units and the capability to accommodate an additional 120 units. The GreenFort subsidiary also picked up a 121-unit retirement home on a 4.8-hectare plot in the Robertson suburb of south Brisbane, the publication added.