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.
The Weekly SOURCE
Retirement villages now hot investments: Here is why
Aveo is even sweeter in that it has been moving its contracts to a mix of upfront payments rather than the DMF. In March 2024, we reported in The Weekly SOURCE that a third of new Aveo customers have chosen an alternative to the traditional deferred...