Thomson Geer has advised integrated retirement village and residential aged care operator Greengate Partnership Pty Ltd (Greengate) on its acquisition by Australian Unity for $65m.
Wealth and investment group, Australian Unity has boosted its aged care and retirement village portfolio, with the acquisition of Greengate's three vertical retirement village and residential aged care precincts. The three precincts are recently completed, and fully operational – two are located in Maroubra and Kogarah in New South Wales and one in Woolloongabba, Queensland. The acquisition also includes a prime development site in Auchenflower, Brisbane which has approval for the development of a similar vertical aged care precinct.
Partner Lucinda Smith said, "It has been a pleasure advising our longstanding client Greengate on this transaction. We have been privileged to assist Greengate from its inception over 15 years ago through its expansion and immense success".
The Thomson Geer team was led by partner Lucinda Smith supported by partner Jonathon Corlett, partner George Hodson, senior associate Nicola Moldrich and associate Catherine Wei.