Barings has acquired two industrial warehouse assets in Australia for Brighter Super under a A$100m (€56m) mandate from the super fund.
The acquisitions of the properties with 28,508sqm net lettable area in Berrinba and Archerfield in Brisbane form the first seed assets under Brighter Super’s Queensland investment strategy.
The mandate is focused on procuring a diversified portfolio of high-quality income-producing industrial assets across Queensland, including major metropolitan and regional markets.
The Australian super fund aims to grow the portfolio and expand the mandate to see an additional A$500m invested in Queensland in the next three to five years.
Paul Notaras, executive director, investment management at Barings Real Estate Australia, said: “The fundamentals supporting long-term tenant demand for industrial and logistics assets in Queensland remain strong and the area is benefiting from a diversified economy, overseas and interstate migration, and significant state infrastructure spending on rail, road, metro networks, hospitals, and airport upgrades.
“The 2032 Brisbane Olympics is also driving growth in transport and warehousing demand, fuelled by increased development activity.”
Kate Farrar, CEO at Brighter Super said: “This partnership highlights Brighter Super’s strong commitment to Queensland through our Queensland Investment Strategy.
“With over 85% of our funds under management from members living in Queensland, we believe that investing in Queensland assets has the potential to deliver strong long-term returns for our members while supporting local communities and economic growth for the state.”
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