Acquisition of Land Lease Community Operator Serenitas

Mirvac Group (Mirvac) [ASX: MGR] today announced it has entered into binding agreements to acquire one of Australia’s leading land lease operators, Serenitas, in partnership with Pacific Equity Partners Secure Assets (PEP)1 and Tasman Capital Partners (Tasman)2, for a total consideration of $1,010 million3. Mirvac will make a ~$300 million initial investment with ~$240 million funded on settlement