Canadian giant Brookfield has agreed to sell Aveo’s South Australian retirement village portfolio to the Not For Profits Resthaven and Eldercare, both part of the UnitingCare Australia network, in a deal valued at $122 million.

UnitingCare Australia is the national body for the Uniting Church’s community and aged care services network.

Resthaven operates 20 retirement villages and delivers residential and community care services throughout South Australia. The operator will take over 799 units across 11 villages.

Eldercare, which operates 12 retirement villages and residential aged care services, will resume responsibility for two villages with 234 units.

The deal was signed before a $3.5 billion-plus auction for the broader business.