Mariner looks to Europe
The fund manager hopes to use German investments to launch new retirement living funds in Australia.
Australian funds management company, Mariner Financial has struck a deal with a German-based property firm.
The joint venture with HSH Real Estate will enable Mariner to purchase and manage a range of European aged care infrastructure assets.
The Financial Standard reported that the aim of the deal is to acquire $813 million worth of property assets with a particular focus on Germany where the government supports improved housing developments for older people.
Mariner will use this investment to launch a series of new funds to the Australian market.
“We have jointly established a local European market presence with a leading financier, property manager and regulatory expert to expand our retirement living and aged care portfolio,” said Mariner Financial’s Executive Chairman, Bill Ireland.
Mariner launched its Third-Age Retirement Living division in November last year to provide non-traditional retirement solutions.
“Innovation in the retirement sector is long overdue,” Mr Ireland said at the time.
“People work hard during their earlier years and deserve greater, not fewer, options in their later years.”
“Market research confirms strong and growing demand for fresh individual, family and community retirement solutions,” he said.
