October 7 2025 15:00
Growthpoint Healthcare Property Holdings (GHPH), managed by Growthpoint Investment Partners (GIP), the fund management business of Growthpoint Properties (JSE: GRT), South Africa’s largest real estate investment trust (Reit), will acquire the properties and operations of Auria Senior Living, a developer, owner and operator of senior living communities in South Africa.
Auria owns assets worth R2.4bn, including minority interests. This proposed transaction will initially add four “Auria senior living communities” to GHPH’s growing portfolio of healthcare and wellness properties, marking its formal entry into the senior living sector, GHPH said in a statement on Tuesday. The transaction is subject to the usual regulatory approvals.
Auria is led by its CEO, Barry Kaganson. As part of the proposed acquisition, Auria will operate under its current leadership team and brand, with no changes to day-to-day operations, staff or resident services. Continuity and strategic alignment are reinforced by Auria’s executives taking up shares in GHPH, according to both companies.
Barry Kaganson, CEO of Auria Senior Living
Auria’s operations span three communities in Johannesburg: San Sereno in Bryanston, Melrose Manor in Melrose and Royal View in Sandringham, as well as Woodside Village in Rondebosch, Cape Town. The communities comprise more than 900 residents across over 630 independent living units and around 110 care centre units. Auria has more than 1,600 people on its waiting lists. Kaganson said Auria’s residential environments were integrated with healthcare and lifestyle amenities.
He said Auria promotes well-being, security and independence and offers “a full continuum of care from independent and assisted living to specialised support services”.
Auria also has some developments under development, which include Coral Cove in Salt Rock, KwaZulu-Natal which is scheduled to be completed and fully operational in the first quarter of 2026, as well as greenfield and brownfield opportunities.
GHPH is South Africa’s first fund to invest exclusively in healthcare and wellness real estate, and owns licensed healthcare facilities, acute, day and specialist hospitals, laboratories and biotechnology assets such as pharmaceutical manufacturing and warehousing facilities. The recent expansion of its mandate to include senior living will see GHPH allocating capital to this sub-sector.
GHPH’s portfolio includes seven operational hospitals, a pharmaceutical warehousing and distribution facility, and a medical chambers property. Its licensed healthcare assets are operated by large medical service providers including Netcare, Medi-Clinic, Adcock Ingram and Busamed. It owns specialist hospitals, such as Cintocare, Gateway, Hillcrest and the Johannesburg Eye Hospital.
The Auria acquisition would take GHPH’s assets under management to around R6.2bn. Back in 2018 when GHPH was launched there was talk of a possible listing in the future. On Tuesday, George Muchanya who is the head of GIP, said GHPH already ticks all the boxes for a future IPO and stock exchange listing.
“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,” he said.
Kaganson said the acquisition represented 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,” he said.
alistair@propertyflash.co.za
Learn more about Auria here: https://propertyflash.co.za/2025/09/26/auria-senior-livin-launches-coral-cove/
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