PERTH, Australia—Blackstone has agreed toinvest $129 million (A$150M) in National Lifestyle VillagesPty, a Perth-based firm which develops per-fabricatedretirement communities.
National Lifestyle Villages said in a statement thatBlackstone's investment ranks as one of the largest singleinvestments in the Australian industry to date.
"NLV's position as one of Australia's most significant playersin this niche and fast-growing industry reflects years ofexperience and our ability to meet the growing demand forland-lease communities in our target markets," said founder andmanaging director John Wood in a pressstatement.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
