Ord Minnett Management Limited’s Investment Into Aged Care And Assisted Living Facility

Norton Rose Fulbright has advised Ord Minnett’s Private Capital division on the deal.

Ord Minnett Management Limited co-invested with Australian Unity into a fund that will develop an aged care and assisted living facility located at 114 Albert Road in South Melbourne, Victoria operated by Australian Unity (Project). The deal completed on 16 February 2021 and the $125 million development is scheduled for completion in late 2022. 

Ord Minnett is a leading private wealth management group with more than $35 billion in funds under advice. Its newly formed Private Capital division has partnered with Australian Unity on the Project. Australian Unity, Australia’s first member-owned wellbeing company, offers health, wealth and care services throughout Australia. 

The Project involves the repurposing of Australian Unity’s former head office into a premium aged care and assisted living community, co-located with Australian Unity’s newest retirement village, The Grace. The Project forms part of Australian Unity’s integrated Albert Park Wellbeing Precinct with assisted living apartments, wellness centre, restaurant and retail spaces to facilitate a continuum of home and health care options facilitating the changing needs of its residents. 

The Norton Rose Fulbright team was led by corporate M&A partner Ben Smits (Picture) and banking and finance partner Tim Mornane with support from senior associate Charlie Watson (Corporate M&A), special counsel Andrew Singh (Banking & Finance), and lawyer Andrew Cho (Corporate M&A).

Involved fees earner: Andrew Cho – Norton Rose Fulbright; Tim Mornane – Norton Rose Fulbright; Andrew Singh – Norton Rose Fulbright; Ben Smits – Norton Rose Fulbright; Charlie Watson – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Ord Minnett;

Sonia Carcano

Author: Sonia Carcano