M&A Finance
K&L Gates
Full Credential Description
Elka Capital faced the challenge of entering a competitive market for community living options, particularly aimed at the growing demographic of older Australians. To address this, they partnered with Assembly Funds Management to acquire two sites in northern Victoria, with the goal of developing a of over 10 communities valued at more than AU$500 million. This joint venture was designed to create a unique land lease model, allowing homeowners to purchase their homes while leasing the land from the operator, who would manage the estate in exchange for lease payments. K&L Gates provided tailored legal advice throughout this complex transaction, leveraging their expertise across multiple practice areas. The deal was led by investment funds partners Lisa Lautier and Naomi Philp, supported by a diverse team that included specialists in real estate, corporate law, tax, finance, and intellectual property. This collaborative approach was crucial in navigating the intricacies of the joint venture and ensuring compliance with regulatory requirements. As a result of this initiative, Elka Capital and Assembly Funds Management are set to develop and manage 2,000 homes along Australia’s east coast, tapping into the increasing demand for alternative community living options for seniors. This strategic move not only positions Elka Capital as a key player in the residential land lease market but also highlights the potential for significant returns on investment in a sector that is rapidly growing due to demographic shifts.
Measurable Results
Successfully completed $500M transaction