Blackstone said on Wednesday that it plans to buy a retirement village portfolio in New Zealand from Australian property developer Lendlease.
The world’s biggest real estate investor said it has signed a definitive agreement to acquire the portfolio of five villages.
Four of the villages are in Auckland -- the Knightsbridge, Mayfair, Parklane, and Peninsula Club. Another is in Mt Maunganui and called Ocean Shores village.
The five villages...