Arvida says it is buying three Auckland-based retirement villages for $62 million from Aria, plus another $1.5 million in transactions costs.
The recently listed retirement village company would finance the purchase of the villages and aged care facilities through a mix of new equity and debt.
Aria's shareholders would be partly paid with the issue of $6 million of new Arvida shares, valued at 89 cents each.
Arvida will also make a $30 million placement of new shares at 84 cents each with Forsyth Barr and an additional $5 million of shares open to registered retail shareholders.
Arvida chief executive of Arvida Bill McDonald said the Aria villages were an important strategic acquisition and fit with the 17 villages it already owns.
Aria villages are located in Epsom, Browns Bay and Albany, with a high-needs-based offering across 295 care beds, 70 serviced apartments and nine new independent apartments.
