Aware Super Buys 49% Stake in $1.3B U.S. Logistics Venture - InforCapital

Aware Super has acquired a 49% stake in a new joint venture with Goodman Group, investing in a US$1.3 billion logistics platform anchored by three industrial assets in Los Angeles, California.

Located in high-demand infill markets across Southern California, the properties combine newer and older facilities with redevelopment potential. Tenants include major names such as Amazon, Maersk, and Relativity Space, providing strong existing income and upside through value creation.

Goodman Group will retain a 51% stake and serve as platform manager, leveraging over 30 years of experience in global industrial real estate. The partnership builds on a decade-long relationship between the firms, dating back to earlier joint investments in Australia and Brazil.

The investment reflects Aware Super’s global strategy to increase exposure to structural trends in e-commerce, logistics infrastructure, and urban supply chain nodes. The fund emphasized long-term confidence in the U.S. industrial sector, especially in constrained coastal markets like Los Angeles, where land scarcity limits new development.

Alek Misev, head of property at Aware Super, noted that this move supports the fund’s countercyclical investment approach, focusing on undersupplied infill markets with high barriers to entry and long-term demand resilience. It complements Aware Super’s A$12 billion property portfolio, which is heavily weighted toward living sector assets.

Gregory Goodman, CEO of Goodman Group, highlighted that the firm’s U.S. business now generates over 37% of its offshore earnings, making it a cornerstone of Goodman’s global strategy.

For Aware Super, the deal provides a scalable entry point into U.S. real estate, particularly in the industrial and build-to-rent sectors. The fund’s allocation to industrial assets now makes up 30% of its real estate portfolio, all previously within Australia. This marks a shift toward international diversification.

The move aligns with other major global pension and sovereign investors targeting U.S. logistics platforms. Comparable transitions include:

• GIC’s strategic partnership with Prologis, which expanded the sovereign wealth fund’s exposure to urban logistics assets across the U.S.
• Blackstone’s scaling of Link Logistics, consolidating modern industrial real estate under a single operating platform with over $60 billion in assets.

This latest transaction reinforces a trend: institutional investors are deepening allocations to core logistics assets in major U.S. markets where supply is structurally constrained and tenant demand remains strong. With a trusted operator in Goodman and a well-located seed portfolio, Aware Super is entering the market with scale, alignment, and long-term upside potential.