King & Wood Mallesons (KWM) has advised Lifestyle Communities (LIC) – the only ASX-listed pure play land lease communities business - on its entitlement offer to raise approximately $275m. LIC is a market leader operating solely in Victoria and has welcomed over 5.300 residents and settled over 3,600 homes.
The Entitlement Offer represents the first time LIC has raised equity in 10 years. The proceeds will provide LIC with balance sheet flexibility to fund strategic growth initiatives.
The KWM team was led by Partners Diana Nicholson and Jack Hill and Senior Associate Emma Newnham.
Commenting on the deal, Partner Diana Nicholson said:
“We appreciate the opportunity to work with Lifestyle Communities on this important transaction that will enable it to pursue a number of attractive opportunities that are at various stages of negotiations and due diligence.”
