Waterford on Hobsonville comprises 64 independent living villas and 36 independent living apartments on 3.7 hectares of land in Auckland's Hobsonville Point.
This acquisition of the Waterford on Hobsonville Point is expected to settle in April or May.
The Franklin Property comprises 6.1 hectares, including 2.0 ha of land currently leased to Oceania and 4.1ha of bare land adjacent to this site.
The leased site currently has a care-only facility with 44 standard care beds.
Oceania has initial plans in place to redevelop the combined site into an integrated village, offering villa and care suite accommodation options with more than 200 residences upon completion.
The Franklin acquisition is expected to settle by June.
"The equity raise will also provide additional financial capacity for Oceania's future growth and reduce corporate debt outstanding while other potential growth opportunities are assessed," the company said.
The placement is fully underwritten by Jarden Partners and Macquarie Securities and will be conducted today through a bookbuild in which institutional and other select investors in New Zealand, Australia and other jurisdictions will be invited to participate.
The placement has been fully underwritten at a fixed price of $1.30 per share.
Oceania has been put into a trading halt for the placement.
