Provider News
Cerberus launches $1bn-plus auction for land lease firm Lincoln Place
Provider News
Cerberus launches $1bn-plus auction for land lease firm Lincoln Place
The Weekly Source · 3 min read · 6 hours ago
Original source
Summarised by Stellar
Key points5 points
- Cerberus is selling Lincoln Place via Goldman Sachs, with indicative bids due in late September.
- The portfolio includes 26 communities across NSW, Victoria, Queensland and the ACT, with about 6,100 potential sites.
- Only 1,900 sites are occupied, leaving 4,200 undeveloped sites that will significantly influence the sale price.
- Lincoln Place generates approximately $70 million in EBITDA and focuses on the mid-market downsizer segment.
- The sale will benchmark investor appetite for land lease scale, following GemLife's $750 million IPO in 2025.
Summary
Cerberus Capital Management is formally selling Lincoln Place, a land lease operator with 26 communities across four states and territories, in an auction managed by Goldman Sachs. The portfolio includes about 6,100 potential home sites, of which only 1,900 are occupied, leaving a development pipeline of roughly 4,200 sites. Lincoln Place generates around $70 million in EBITDA and has been one of the most active developers in the sector, starting 14 new communities in three years. The sale is expected to exceed $1 billion and will provide a key benchmark for institutional investment in land lease communities, following GemLife's successful IPO last year.