Mirvac Acquires Serenitas for A$1.01B

20 Oct 2023 CW Team

Mirvac Group MGR.AX, an Australian property developer, announced that it would purchase Serenitas, a land lease operator controlled by Singapore's sovereign-wealth fund GIC, for A$1.01 billion ($642.76 million) in collaboration with Pacific Equity Partners Secure Assets (PEP) and Tasman Capital Partners.

Following the transaction, Serenitas will operate as a joint venture, with Mirvac and PEP each owning 47.5% of the company, and Tasman Capital Partners owning the remaining portion.

"This acquisition expands our residential offering, propelling Mirvac to become one of the largest owners in the attractive land lease community sector," said Mirvac CEO Campbell Hanan.

Serenitas began as a land lease community enterprise in 2017.

Mirvac will make an initial investment of A$300 million, with A$240 million funded upon settlement and A$60 million deferred for 12 months.

The purchase is expected to be completed in the third quarter of fiscal 2024, according to the business.

(1 US dollar = 1.5713 Australian dollars)

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..