Infrastructure investor Infratil and NZ Super Fund are reviewing their ownership of retirement village operator RetireAustralia.
RetireAustralia has 28 villages and about 5000 residents in three Australian states. (File image) Photo: 123rf
The pair each own half of the company, which has 28 villages and about 5000 residents in three Australian states, which they bought in 2014 for $A650 million ($NZ69m).
The pair said they would look at all options for the business including a sale.
Infratil chief executive Jason Boyes said the business had performed well in "very trying times", and was performing strongly.
"We feel it is a good time [to] assess the scale of the investment in our portfolio and whether there is a higher value owner to support delivering the business' strategic plan."
Infratil and the Super Fund will canvas potential investors and look at proposals and options with the aim of getting best value.
"We continually assess the shape and structure of our portfolio ... it is time to consider what ownership structure is best for RetireAustralia and for us," said Super Fund real estate senior advisor Toby Selman.
Infratil valued its stake in RetireAustralia at $356m in its half-year report last November, with the company contributing operating earnings of $6.3m to Infratil's result.