Ingenia, Stockland shortlisted for $500m-plus Halcyon auction
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A pair of ASX-listed property groups and a big money-backed trade player are among bidders scrapping for $500 million Queensland retirement village owner/operator Halcyon.
Halcyon operates nine lifestyle communities in Queensland and provides and maintains facilities like golf courses and tennis courts.
Glenn Hunt
Street Talk understands listed real estate players Ingenia Communities Group and Stockland, as well as GIC-backed Aussie lifestyle community business Serenitas, are running due diligence on Halcyon after they were shortlisted for the auction’s final round.
Sources said the bidders have about a month to finalise diligence, arrange funding and submit a binding offer for the Queensland-based company, which drafted in Rothschild to auction a majority stake in December.
Australian property investment firm Stockland and J.P. Morgan Asset Management have formed a joint venture to invest in logistics and industrial assets in Australia, starting with a portfolio of around US$400 million, and increasing to over $1 billion by 2023.
The joint venture “will primarily target the acquisition of established assets with solid, reliable income streams”, Stockland says in a statement on December 24.
The portfolio will be seeded initially with two properties in Melbourne which Stockland is buying from unnamed sellers for $110 million.
The joint venture will then acquire $300 million worth of assets from Stockland’s existing logistics portfolio and third parties by late next year.