Blackstone buys Lendlease's NZ retirement village portfolio for undisclosed sum

Tue, 16 Feb 2016

By Paul McBeth Feb. 17 (BusinessDesk) - US private equity firm Blackstone Group LP has bought Lendlease Group's portfolio of five retirement villages in New Zealand for an undisclosed sum. The transaction is expected to be completed in the coming months pending regulatory approval, Blackstone said in a statement. The portfolio is made up of four villages in Auckland and one in Mt Maunganui. Last month The Australian newspaper reported the New Zealand portfolio was on the block, speculating it could sell for as much as A$100 million. ...

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