AustralianSuper makes cornerstone investment in Assemble CommunitiesJune 11, 2020
We’re proud to announce today that AustralianSuper has invested in Assemble Communities.
Australia’s largest superannuation fund has taken a 25 per cent share in the company and will have the opportunity to invest in Assemble Communities’ pipeline of projects.
This investment will enable us to grow our innovative ‘rent with the option to buy’ property portfolio, known as the Assemble Model, which addresses housing affordability and access to home ownership. Over time, the investment will support us to deliver build to rent assets.
Our Managing Director, Kris Daff, said this significant investment signals the company’s unwavering commitment to affordable housing options is attractive to institutional capital partners, and Assemble now has the ability to scale to meet market demand for affordable housing and build to rent opportunities.
“With AustralianSuper acquiring a cornerstone investment in our platform, we are primed to take advantage of market opportunities and deliver on our mission of providing fair housing options for generations of Australians.”
Kris Daff, Managing Director, Assemble.
AustralianSuper’s Head of Property, Bevan Towning, said he expected the investment will provide good long-term returns for members while also addressing a significant social issue.
“AustralianSuper is proud to be investing in an Australian company that is innovating in affordable housing. We reviewed a number of models in affordable housing before choosing Assemble Communities’ sustainable and scalable model that will provide both an appropriate return for our members and an affordable housing solution for working Australians.”
Bevan Towning, Head of Property, AustralianSuper.
The investment from AustralianSuper aligns with the superannuation fund’s belief that all Australians should have dignity in retirement. Research shows that home ownership is a key determinant of retirement security.
Assemble offers alternative housing pathways that meets the needs of low and moderate-income Australians by providing tenure certainty, the ability to live well, and the ability to form a strong connection to their community.
MAKE Ventures, which acquired Assemble Communities in 2014, is co-investing up to $50 million and making available the majority of their project pipeline—in excess of 4,000 dwellings and 120,000sqm of non-residential programming—to be delivered by Assemble Communities.