<article>Singapore&#8217;s GIC is contemplating a bid for Australia’s residential community Gateway Lifestyle Group, according to a <a href="https://www.theaustralian.com.au/business/dataroom/gic-mulls-rival-gateway-bid/news-story/c7355a5bb7712c0fcde559242302a1b8">report</a> by The Australian.</article>

Singapore&#8217;s GIC is contemplating a bid for Australia’s residential community Gateway Lifestyle Group, according to a <a href="https://www.theaustralian.com.au/business/dataroom/gic-mulls-rival-gateway-bid/news-story/c7355a5bb7712c0fcde559242302a1b8">report</a> by The Australian.
Gateway claims to be the largest operator of land lease communities in Australia and envisages being the creator and operator of Australia’s largest portfolio of residential land lease communities that inspire a better lifestyle for independent active over the 50s. It is a rival of GIC&#8217;s very own retirement village company National Lifestyle Villages in Western Australia.
The company was listed on the ASX in 2015 and has since expanded to ACT and South Australia.
It is reported that US-based manufactured home company Hometown Corporation is the leading bidder for Gateway’s shares after it recently raised its bid by 12 per cent to AUD2.35 (€1.5) for each share.
The new bid values Australia’s Gateway at A$714 million, higher than the $2.30 per security or A$699 million offered in a previous bid by the property arm of Brookfield Asset Management last week.
It is understood that Hometown has already bought a 9.5 per cent stake from Sydney-based fund manager Perennial ahead of making its latest bid.
GIC is known to have expressed interest in investing in the Australian retirement residential sector in the past, with Gateway believed to be one of its investment targets.
In May, GIC teamed up with Australia’s Tasman Capital Partners to buy the assets of Australian retirement village developer National Lifestyle Villages (NLV) from Malaysian private equity group Navis Capital and global investor Blackstone.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/gic-tasman-capital-national-lifestyle-98389/">GIC, Tasman Capital acquire Navis-backed National Lifestyle Villages</a>
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Gateway claims to be the largest operator of land lease communities in Australia.

Singapore's GIC mulls bid for Australia’s Gateway Lifestyle stake: Report

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