Lane Neave acts on sale of three large retirement villages
Lane Neave acts on sale of three large retirement villages to NZX listed company
National law firm, Lane Neave, has acted for the family owned Sanderson Group on the sale of three large retirement villages to NZX listed company, Arvida Limited.
Under the $180m deal, completed on 31 July 2019, the Sanderson Group sold Bethlehem Country Club and Bethlehem Shores in Tauranga, along with the Queenstown Country Club, which includes 326 independent living units and further provides Arvida Limited for the future development of 504 units. The founder of Sanderson Group, Fraser Sanderson, has been at the forefront of the development and operation of luxury retirement villages for over 30 years.
Our team for this transaction was led by partners Joelle Grace and Sam Nelson, with assistance from senior solicitor Danita Ferreira and specialist retirement village advice from special counsel Peter Orpin.
Corporate partner, Joelle Grace, said Lane Neave was perfectly placed to assist Fraser Sanderson and his wider team with this transaction.
"Lane Neave has established a great deal of experience working closely with business owners who are looking either to exit, sell or attract investment into their businesses."
"We also have a great deal of expertise and a strong focus on the retirement villages sector.”
"We are delighted to have worked alongside Fraser Sanderson and his wider team on this significant transaction which is not only a good outcome for the Sanderson Group but also for the residents and staff at the three retirement villages."