Growthpoint’s Health Fund buys Auria, backs senior living

• GHPH to acquire Auria’s properties and operations; formal entry into senior living pending regulatory approvals.
• Auria adds four communities, 900+ residents, 630 ILUs and 110 care units; pipeline includes Coral Cove (KZN).
• AUM rises to around R6.2bn; Growthpoint-backed fund targets scalable, healthcare-anchored senior living with defensive demand.

Growthpoint Healthcare and Auria

‍Growthpoint Healthcare Property Holdings (GHPH) managed by Growthpoint Investment Partners and backed by JSE-listed Growthpoint Properties (GRT) has agreed to acquire the properties and operations of Auria Senior Living, a premier South African developer, owner and operator of senior living communities.

The deal (subject to regulatory approvals) initially brings four Auria communities into GHPH, marking its formal entry into senior living and lifting assets under management to around R6.2bn.

HPH is South Africa’s first fund dedicated exclusively to healthcare and wellness real estate, holding licensed facilities across acute, day and specialist hospitals, labs and biotech assets (including pharmaceutical warehousing) operated by major providers such as Netcare, Medi-Clinic, Adcock Ingram and Busamed.

Expanding its mandate to include senior living is a logical extension of its healthcare platform.

‍Auria will continue under its current leadership and brand, with no changes to day-to-day operations, staff or resident services; its executives will take up shares in GHPH, aligning interests for growth.

What’s in the Auria Portfolio?

‍Auria currently operates three communities in Johannesburg San Sereno (Bryanston), Melrose Manor (Melrose) and Royal View (Sandringham) and Woodside Village in Rondebosch, Cape Town.

Together they house 900+ residents, with 630+ independent living units (ILUs) and around 110 care centre units, and a waiting list exceeding 1,600 people, clear evidence of undersupplied demand.

A significant pipeline includes Coral Cove in Salt Rock, KwaZulu-Natal, targeted to be complete and fully operational in Q1 2026, plus additional greenfield and brownfield opportunities GHPH intends to commence.

Leadership Commentary

‍George Muchanya, Head: Growthpoint Investment Partners:

“Senior living is an emerging institutional asset class, both locally and globally. GHPH’s focus on healthcare real estate makes it a natural investment. As South Africa’s population ages, the need for well-run, people-centred communities is expected to rise. Auria is a national leader in senior living with continuing care and aligns seamlessly with GHPH’s purpose to enable world-class healthcare and wellness infrastructure to meet the needs of South Africans.”

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Barry Kaganson, CEO of Auria:

“This acquisition agreement represents a significant vote of confidence in Auria and the professional senior living sector as a whole. We look forward to building on our strong foundation as a subsidiary of GHPH, which strengthens Auria’s ability to grow with purpose, innovate with confidence and deliver consistently high standards across its communities.”

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Why Senior Living and Why Auria?

‍Senior living is shifting from a niche to an institutional, needs-driven asset class. The model combines quality housing with care, delivering a continuum from independent and assisted living to specialised support. That integration drives longer length of stay, lower vacancy and resilient cash flows particularly attractive in a volatile economy.

Auria’s brand is built on hospitality-grade environments integrated with healthcare and lifestyle amenities well-being, security, independence, and on-site care. Its proven operations, high resident satisfaction and deep waitlists indicate pricing power and scalable demand, exactly the profile suited to GHPH’s build-to-core strategy.

Summation

‍This deal is a strategic pivot with scale: GHPH adds a category leader, diversifies into defensive senior living, and positions for future IPO readiness with around R6.2bn AUM.

For South Africa’s ageing population, the outcome is practical: more high-quality, professionally run communities that fuse real estate, care and lifestyle at institutional standards. Pending approvals, Growthpoint and Auria are set to professionalise and expand senior living at pace.

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