Retire Australia receives additional international backing: $143M in new funding

The country’s largest private village operator, Retire Australia, has received a substantial vote of confidence from the global real estate investment group Morgan Stanley Real Estate Investing (MSREI) who have provided $143M in mezzanine debt for four years. This is on top of $95M that JPMorgan funded in 2010. MSREI is quoted as saying that they have been interested in investing in Australia’s retirement sector for some time and Retire Australia offers first class management and a development pipeline that will build value. Retire Australia owns and operates 25 villages with 3,400 ILU’s and 550 development blocks. The management is made up of Tim Russell, Glen Brown and Mark Taylor, who have ridden out the GFC and a turbulent joint venture with AMP Capital Investors. Persistence pays.