Mergers & Acquisitions

Elka Capital and Assembly Funds Management, backed by the Lowy Family, acquire two land lease communities in Victoria

Oct 15 2024 Updated 2 hours ago

Ian Horswill

1 min read

The new entrants to the sector plan to develop over 10 land lease communities and 2,000 homes along Australia’s east coast.

As we reported here, Elka Capital is the creation of David Laing and Tom McDonald.

David was GM Development for Ryman Healthcare Australia, National Manager of acquisitions for Stockland's retirement living business and the Regional Manager of Lendlease's retirement living development business.

Tom McDonald was a Principal in the Blackstone Real Estate team in Australia and was responsible for one of Australia's largest Build-To-Rent portfolios. 

They worked with K&L Gates.

“Elka enjoyed collaborating with the team on this transaction,” said Tom McDonald, Elka Capital director.

Browse the #1 website villages.com.au and check availability for all retirement living and land lease resorts.

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