Appleby advised Brookfield on the USD2.5 billion (AUD3.85 billion) sale of retirement home operator Aveo to The Living Company, the parent entity of Scape Australia. Aveo, one of the largest retirement living platforms in Australia, owns and manages a portfolio of more than 10,000 units across multiple retirement villages across Australia.
Appleby advised on the Bermuda aspects of the competitive sale process, including on the shareholder arrangements, corporate structuring, financing and vendor due-diligence.
Appleby had also advised Brookfield on the acquisition of the Aveo Group in 2019. Clive Langley, Brookfield’s global relationship partner, said:
“We are delighted to have assisted Brookfield with this matter from acquisition in 2019 to sale in 2025. It represents another successful real estate investment for Brookfield in this region. We understand this transaction is expected to be one of the largest transactions in Australia this year and applaud the Brookfield team in this regard. It’s always a pleasure to work with them as well as their local onshore counsel.”
The Appleby team was comprised of Partners Clive Langley and Max Tetlow and Senior Associate, George McCallum.