Aquilius Investment Partners, a specialist in Asian real estate secondaries, has led a $200 million fund to enable Tasman Capital Partners to exercise its option to increase its stake in the leading land lease communities operator, which is led by Tasman Capital Partners' Managing Partner Rob Nichols.
In October 2023, it was announced Mirvac and Pacific Equity Partners Secure Assets had agreed to pay $1.01 billion, for a 47.5% ownership each, with Tasman Capital Partners keeping 5%. The deal gave Tasman Capital Partners the option to increase its ownership to 19.99% and dilute Mirvac and Pacific Equity Partners stake in Serenitas to 40% each. Tasman Capital Partners has until February 2025 to exercise its option.
"Serenitas remains one of, if not the best capitalised business in the land lease sector," Rob told The Weekly SOURCE.
Mirvac said in its FY24 Financial Report that Serenitas, through its brands Thyme Lifestyle Resorts, National Lifestyle Villages, Thyme Lifestyle Resort, The Anchorage Lifestyle Resort, Lucas Lifestyle Estate, Tuart Lakes Lifestyle Resort, The Vantage Lifestyle Resort, The Outlook Lifestyle Resort, and RV Homebase Fraser Coast, operates 28 land lease communities, with 4,587 sites, a 1872 develppment pipeline with three new communities under contract.
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