AUSTRALIA’S third-largest super fund, Aware Super has established a new property platform to oversee its $1.5 billion worth of directly-owned assets, and has named Michelle McNally as the founding CEO.
Aware Super’s directly owned portfolio has build-to-rent, industrial and office property assets, including build-to-rent projects in Sydney, Canberra, Perth, and in Melbourne, where together with Altis Property Partners it has just purchased a development site in Preston.
McNally has been general manager of investor solutions, market strategy and engagement at ISPT, where she oversaw $20 billion in funds management and was general manager of its $8 billion Australian office portfolio. Her 25 years of property investment experience include roles as general manager of property for Australia Post and senior positions at JLL.
Aware Super has 1.1 million members is expecting to hit $250 billion in total by 2025. In March, it purchased another 24.9% interest in Lendlease Retirement Living Trust $490 million, now holding an almost 50% stake in one of the country’s largest owners, operators and developers of retirement villages.
