M&G Real Estate and Australian property group Stockland have formed a partnership to invest in a portfolio of land lease communities for senior living across Australia.
M&G will acquire a 49.9% interest in the Stockland M&G Land Lease Partnership (SMLLP), building on its logistics partnership with Stockland in 2024.
SMLLP is M&G’s first investment on behalf of its Asia Pacific Living Strategy into senior living in the region.
The partners plan to deliver 573 homes across two communities in Melbourne’s south-eastern growth corridor, with Halcyon Jardin in Clyde North and Halcyon Evergreen in Clyde scheduled for staged completion between 2028 and 2029.
Jing Dong Lai, CEO and CIO of M&G Real Estate Asia, said: “Our entry into Australia’s land lease community sector reflects our conviction in senior living as a structurally supported segment that is becoming increasingly institutional.
“We see meaningful opportunity in creating well‑planned communities and homes designed for retirement living. By combining global capital with experienced local development and operating capability, we are building diversified residential exposure capable of delivering attractive development-led growth and durable returns for investors.”
Justin Louis, Stockland CEO, said: “Stockland is pleased to expand its existing relationship with M&G Real Estate through the establishment of SMLLP. This partnership builds upon Stockland’s strong relationship with M&G Real Estate and aligns with our strategy to partner with long-term institutional capital in the living sector.”
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