Scott Marinchek will announce next Wednesday the first new investment fund to specialize in the retirement village and aged care sector since the meltdown of the investment model of Babcock & Brown/Macquarie Bank et al in September 2007. Called Aviiid Third-age Living, (that is with 3 `is in the name - being three people or a community), it expects to have between $450 and $700 million already invested by approximately April next year. Marinchek is seeking land with DA approvals or existing villages and care facilities to acquire. The seed capital will be provided by 3 to 4 super funds. Aviiid will also consider joint ventures. Scott Marinchek kick started Aviiid by purchasing the Mariner Finance Third Age Living business, of which he was Executive Partner.
Government Policy
No excuse for providers to not be ready on 1 November: Aged Care Minister Sam Rae
Aged Care Minister Sam Rae has told ABC radio the Aged Care Rules have been in place for “a significant amount of time” and the Government has been listening to and supporting to the sector, “so, there really isn’t an excuse from any provider to not be prepared for 1 November”.
