Lifestyle Communities has increased its debt facility by $150 million in order to fund future growth.

The land lease operator now has a total debt facility of $525 million from CBA, NAB and HSBC, divided into three tranches: $110 million expiring in June 2025, $265 million expiring in August 2026, and $150 million expiring in October 2027.

According to Lifestyle Communities Managing Director James Kelly (pictured), the company expects to ramp up utilisation of its debt facility over the next five years.

“Increasing the facility size will provide additional capacity to assist with future land acquisitions and development costs.

“Our capital management initiatives will remain an ongoing priority as we seek to continue the sustainable growth of Lifestyle by acquiring up to three new sites every 12 months,” he said.

Lifestyle Communities last increased its debt facility in August 2021 to fund its shift from two to three site acquisitions per year.