Global law firm K&L Gates has advised Elka Capital Pty Limited (Elka Capital) in a joint venture with Assembly Funds Management (AFM) to acquire two sites in northern Victoria. This initiative is part of a broader plan to develop a portfolio of over 10 communities valued at more than AU$500 million.

Together with AFM, Elka Capital aims to develop and manage 2,000 homes along Australia’s east coast. This innovative land lease model allows homeowners to purchase their homes while leasing the land from the operator, who will oversee the estate in exchange for lease payments.

Elka Capital director Tom McDonald stated, “Elka enjoyed collaborating with the K&L Gates team on this transaction. K&L Gates demonstrated their depth of experience and provided great service throughout the process.”

The K&L Gates deal team was led by investment funds partners Lisa Lautier and Naomi Philp, with support from real estate partner Samuel Brown, corporate partners Daniel Atkin and Simon Leslie, tax partner Stuart Broadfoot, finance partner Richard Gray, and intellectual property partner Chris Round. The team also included special counsel Karen Yuan, senior associate Renee Xue, and lawyers Dhivya Kalyanakumar and Beliz Ozturk.

Lautier commented on the deal, saying, “Australia’s demographic shift towards an older population has fueled a growing interest in community living, attracting institutional capital. We are pleased to contribute to this initiative, showcasing our collaborative strength across multiple practice groups.”

Philp added, “We are thrilled to assist Elka Capital in this rapidly growing sector, which offers alternative community living options for senior Australians.”