Blackstone acquires retirement village portfolio in New Zealand

Overview:

• Blackstone Tactical Opportunities plans to acquire a retirement village portfolio in New Zealand from Lendlease, an international property and infrastructure group.
• The portfolio is made up of five fully completed villages, four in Auckland—the Knightsbridge, Mayfair, Parklane and Peninsula Club—and one in Mt. Maunganui—Ocean Shores.
• The transaction is subject to regulatory approvals and is expected to close in the next few months.
• Simpson Thacher & Bartlett acted for Blackstone Tactical Opportunities, with Anthony King, Jonathan Hwang and Bridget Huang providing real estate expertise, and Chris Bell and Jackie Kahng covering banking aspects.