Aware Super is acquiring a 49% stake in a new partnership with Goodman Group that will invest in a US$1.3B (A$2B) logistics platform anchored by three properties in Los Angeles.
The assets are located in key infill markets in California — ranked as the world’s fourth-largest economy, according to the news release. The properties, a mix of newer and older buildings with redevelopment potential, are leased to tenants that include Amazon, Maersk, and Relativity Space.
Goodman will retain a 51% stake and manage the platform, drawing on its more than three decades of experience in global industrial real estate.
The investment is part of Aware Super’s broader push into global logistics, reflecting its strategy of backing long-term demographic and technological trends.
“Despite recent market uncertainty, we remain confident in the strong long-term fundamentals of the U.S. industrial sector, with Los Angeles benefiting from limited supply and robust consumption patterns,” said Alek Misev, Aware Super’s head of property, in the release.
He said the move aligns with the fund’s counter-cyclical strategy. “We’re targeting undersupplied infill locations where it is difficult to build new supply and creating compelling fundamentals for our members’ A$12B property portfolio.”
The deal builds on a long-standing partnership between the two firms, dating back to co-investments in Australia and Brazil in 2012.
“Our U.S. business represents over 37% of Goodman Group’s offshore earnings and is an increasingly important part of our global investment strategy,” said Gregory Goodman, chief executive officer of Goodman Group, in the release.
The transaction also gives Aware Super a scalable foothold for its expanding U.S. real estate platform, which targets industrial and build-to-rent sectors where supply constraints have created pricing tailwinds. Misev said the fund is also eyeing growth in developed Asia and has already established a European base in London.
Industrial assets now make up 30% of Aware Super’s property portfolio, all currently located in Australia. The fund’s 45% allocation to the living sector remains its defensive core, supporting more opportunistic investments in office and retail.
