Mega funds ramp up investment towards housing development

InvestorDaily

Specialist affordable housing investment manager Super Housing Partnerships has merged with housing developer and manager Assemble, backed by two of Australia’s largest super funds. AustralianSuper and HESTA have taken majority ownership stakes of 40 per cent each in newly merged Assemble, which they have described as an “exciting” investment opportunity that will also address Australia’s housing supply. Assemble focuses on solutions suitable for middle and lower-income earners, offering affordable, social, essential worker, specialist disability and market-rate rental housing via an integrated build-to-rent (BTR) model.

It also offers home ownership pathways via build-to-rent-to-own and build-to-sell living options in desirable areas with good amenities in and around capital cities. Assemble is aiming for $15 billion funds under management over the next decade, which amounts to a target of 17,000 homes. “Partnering in Assemble is an exciting opportunity to develop innovative solutions that break down barriers to large-scale investment in housing and that aim to deliver strong and stable long-term returns for members, by helping to address one of our nation’s biggest challenges,” said HESTA chief executive Debby Blakey.

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