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Media release: Clayton Utz advises Invesco Real Estate on its strategic partnership with Stockland to deliver greater housing supply in Australia
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Clayton Utz has advised Invesco Real Estate (Invesco) on its entry into a strategic partnership with Stockland (ASX: SGP) to support the delivery of approximately 1,190 homes across three land lease communities. The partnership, named the Stockland Land Lease Partnership (SLLP1), will engage in ~A$760 million worth of development across the three initial communities.
SLLP1 will develop and hold an initial portfolio of the three land lease community assets in Gables (NSW), Coves (QLD) and Redland Bay (QLD). It includes the opportunity for SLLP1 to acquire a land lease community asset at Providence (QLD), as well as a pipeline of future opportunities. Under SLLP1, Invesco will hold a 49.9% interest and Stockland a 50.1% interest.
SLLP1 has allowed Invesco to expand its exposure to land lease communities. Given Australia's housing shortage and aging population, land lease community assets are an attractive and growing asset class in the real estate sector, and a high-conviction investment for Invesco.
Corporate Partner David Wilkie led the multi-disciplinary Clayton Utz team, alongside Senior Associates David Indula and Francis Yuan and Lawyers Jordan Cheung, Gabriel Bowes-Whitton, Ellie Flannery, James Webb, and Chelsea Tsang. Partner Adam Peppinck supported the team with Lawyers Mikayla Simpson and Dylan Glover, as well as Environment & Sustainable Development Partner Claire Smith alongside Senior Associate Lauren Smith and Lawyer Jessica Lighton.
David Wilkie says Clayton Utz is delighted to have worked with Invesco on this strategic transaction.
Invesco's strategic partnership with Stockland is a fantastic way to deliver greater housing supply in Australia. We thank Invesco for involving us in this important transaction and wish both Invesco and Stockland all the best in this important partnership.
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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.