Clifford Chance advises Scape Australia on landmark acquisition of Aveo

Global law firm Clifford Chance has advised Scape Australia on the acquisition of Brookfield’s Aveo retirement living business, marking the largest direct real estate transaction in Australian history.

Clifford Chance also advised on the creation of a fund managed by Scape for its acquisition of Aveo.

Ben Waterfall, Senior Associate at Clifford Chance, commented:
“The acquisition of the Aveo retirement village business marks a transformational expansion of Scape Australia’s business. The complexity and international aspects of the transaction highlight our firm’s cross-border capabilities and expertise handling sophisticated transactions.”

Philip Podzebenko, Partner at Clifford Chance, added:
“The acquisition demonstrates Scape Australia’s ambition and dynamism. It was a pleasure to support the Scape Australia team in this strategic step.”

This deal follows a series of recent mandates for Scape Australia, including the transformational conversion of the Scape Core Fund, the merger of two property portfolios, and the successful capital raising of over AU$1 billion in April.