Australian pension fund manager Aware Super will acquire a 49% stake in a new U.S. partnership with global essential infrastructure provider Goodman Group to invest in a US$1.3-billion platform. The venture is seeded by three properties in Los Angeles’ key logistics corridors and infill markets.
The three seed assets span 2.775 million square feet on 187.3 acres. The tenant roster includes Amazon, Maersk and Relativity Space. Goodman retains a 51% stake in the partnership and will provide comprehensive asset and property management services.
At Aware Super, head of property Alek Misev said, “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. The investment also reflects our counter-cyclical approach of identifying opportunities when others are cautious.”
He added, “We’re targeting undersupplied infill locations where it is difficult to build new supply and creating compelling fundamentals for our members’ A$12-billion property portfolio.”
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