Stockland (ASX:SGP) is planning acquisitions in the land lease community sector. But that's not to say the $11 billion listed company is about to buy Serenitas - it is understood that it has walked away from that opportunity for the time being. Exclusive talks between Pacific Equity Partners and Serenitas failed to result in a deal.

Serenitas is owned by the Singapore sovereign wealth fund GIC and has been on the market through investment bank Goldman Sachs. Stockland is understood to have put forward an offer for the business last year, but the understanding around the market is that it was below the vendor's price expectations. The company that once saw merit in a diversification strategy is increasingly narrowing its focus to "beds and sheds", as evidenced by the comments from Chief Executive Officer Tarun Gupta at the Macquarie Australia Conference in Sydney.

It's a departure from Stockland's "three R" strategy in the past, when it concentrated on residential, retirement and retail under former leadership. Speaking to a packed room of conference participants, Mr. Gupta said the business had capital for inorganic growth in logistics and residential, particularly land lease communities. He would not elaborate on inorganic opportunities in its sights.

But on the sideline, he said the focus for growth in logistics was more organic, adding that the company would not be vying for the $3 billion Logos logistics portfolio on the market through Jarden and Cushman and Wakefield, which The Australian revealed was for sale in March.