Mariner in German JV
Bill Ireland
Funds manager Mariner Financial has entered into a joint venture with a German-based real estate subsidiary of HSH Nordbank to acquire and manage a portfolio of aged care infrastructure assets.
Mariner informed the Australian Securities Exchange today that the deal had been entered into with HSH Real Estate.
Announcing the transaction today, Mariner Financial executive chairman Bill Ireland said the company was pleased to have entered into a strategic aged care joint venture with one of Europe’s leading real estate investing and aged care financial groups.
“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,” he said.
The announcement said that the Mariner Third-Age Retirement Living management division would bring a series of new funds to the Australian market, with the first fund acquiring aged care infrastructure assets in Germany, where there are strong market fundamentals.
Executive partner in Mariner Third-Age Retirement Living Scott Marinchek said the company was developing a global presence in the senior housing and care sectors in order to deliver choice and ingenuity to a market that had historically lacked creative thinking.
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