MA Financial has bought two NSW marinas to add to a growing boatyard fund, in a $20 million deal that highlights the appeal of alternative assets amid a choppy commercial property market.

The facilities at Batemans Bay and Port Macquarie – both with multi-decade leases – were bought from James Marshall, Marprop Real Estate Investors founder, on a yield of about 8.5 per cent. The two facilities will be berthed in the MA Marina Fund, established earlier this year with the $225 million acquisition of the 10-asset D’Albora portfolio.