Aware Super increases ownership in Keyton
25 June 2026
man-looking-at-phone
Aware Super today announces it will increase its ownership in Keyton from 49.9% to 75%, following an agreement to acquire Lendlease’s 25.1% interest.
Keyton is Australia’s largest owner and operator of retirement villages with 66 retirement villages and over 15,000 residents across Australia. Aware Super acquired its initial interests in Keyton in 2021 and 2022. Alongside Aware Super, APG will retain its existing 25% interest.
Aware Super’s Head of Property, Alek Misev said: “Aware Super is pleased to increase our investment in Keyton Retirement Villages and deepen our commitment to the retirement living sector in Australia, delivering strong returns to our members.
“Increased ownership in Keyton reflects Aware Super's strong belief in the business and our conviction in retirement living which aligns with the fund’s property strategy through exposure to long-term senior living demand backed by an aging demographic and a structurally undersupplied sector.
“Keyton’s management team has a proven track record of strong and consistent performance, benefiting from a geographically diverse portfolio, strong occupancy rates, and a robust development pipeline that positions it well for sustained growth.
“Aware will continue to progress key strategic initiatives that support Keyton’s long-term strategy, operational performance and the ongoing delivery of high-quality retirement living.”
“Aware Super looks forward to continuing to work with APG to support Keyton’s long-term success.”
Completion of the transaction is subject to conditions precedent including regulatory approvals, with completion targeted for 1H FY27.