Australia’s largest marina network acquired by financial services firm

Asia Pacific
24th April 2023

Australia’s largest marina network acquired by financial services firm

Diversified financial services firm MA Financial has entered into an agreement to acquire Australia’s largest marina network, d’Albora, for a headline price of $225 million, from Balmain Corporation.

The marina network of d’Albora consists of 10 marinas across Australia‘s eastern seaboard, including the iconic Rushcutters Bay, The Spit and Cabarita Point in Sydney Harbour, two marinas adjacent to the Melbourne CBD, and management rights of the Port of Airlie marina at the gateway to the Whitsundays. Collectively, the marinas can accommodate more than 2,700 vessels and are supported by a range of marine services, leisure, and tourist businesses on site.

As part of the agreement, MA Financial will also launch the MA Marina Fund, a closed-ended fund offering exposure to all 10 marinas. Balmain will participate in the fund as a cornerstone investor with an initial interest of 30%.

Julian Biggins, joint CEO of MA Financial, said the acquisition of the marina portfolio is a natural fit for the firm that already has significant investment and operational capability in retail, hospitality, and other alternative real estate assets. 

He commented:

Biggins said Australia’s current marina market and the asset’s resilient earnings profile over a long period of time were also a factor in the acquisition.

He continued:

Mr Biggins added he was looking forward to the partnership with Balmain.

Biggins concluded:

About d’Albora About MA Financial About Balmain Corporation


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