Over-50s resorts giant GemLife seeks investor for $1b plus stake

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 90%

Australia Headlines News

Australia Latest News,Australia Headlines

Queensland’s Puljich family is set to test market appetite for a stake in its massive over-50s lifestyle developments owner and developer, GemLife.

Hot on the heels of merging two of the family businesses to create Australia’s biggest pure play land lease communities owner, it is understood the Puljichs have retained their investment bankers to run the next leg of the transaction: attracting a deep-pocketed new backer.

Sources said the Puljichs were looking at offering a “material stake” to big Australian listed real estate groups and others circling over-50s estate owners, to realise some of their investment and help with succession planning.The Puljichs’ play started in 1982 with Peter Puljich and one site owned by his family company, Living Gems.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.