Aware Super launches an Australian real estate platform

Aware Super has launched its Aware Real Estate platform, bringing management of its directly held real estate assets in-house and targeting a four-fold increase in real estate assets to A$7 billion ($4.8 billion) in five years.

The new platform will actively manage Sydney-based Aware Super’s portfolio of “residential, industrial, office and mixed-use” properties, currently comprising 11 operational assets and eight 1-rated development sites, A$7 billion, according to a Super Aware press release on Thursday.

Investing these Australian property assets in-house will give Aware Super greater control over strategy and returns while lowering fees for members, a spokeswoman said.

This, in turn, is part of a larger strategy for the pension fund. Damien Webb, deputy chief investment officer of Aware Super, said in the press release: “We aim to grow our internally managed portfolio across all asset classes to 50% by 2025.” The spokeswoman could not immediately provide a current figure for internally managed assets.

Three months ago, Aware Super – one of Australia’s largest super funds, with A$155 billion in retirement savings and 1.1 million participants – named company veteran Michelle McNally of real estate investment and development ISPT, as CEO of Aware Real Estate.

Ms McNally, in Thursday’s press release, said being a leader in Australia’s build-to-let industry is a strategic pillar of Aware Real Estate’s investment strategy.

This focus on building and renting will support the Aware Super “essential worker housing scheme” launched in 2018, offering eligible residents rent at 80% of market rate – a way, Ms McNally said, to attract reliable tenants who “feel connected”. to the product.”

“Real estate investment manager Altis Property Partners, a long-time partner of Aware Super, is playing a fundamental role in establishing Aware Real Estate by providing invaluable support services,” the press release reads.