Australia’s Aware Super has invested A$1.6 billion (US$995 million) in Melbourne Intermodal and Industrial Exchange, a 99-hectare project in the north of Melbourne.
The property is owned and managed by Aware Real Estate, a unit of the superannuation fund.
It includes Australia’s first privately funded open-access intermodal freight terminal, developed by another unit, Intermodal Terminal Company, Aware Super says in a statement on April 10.
Aware Super estimates the project will create almost 2,000 jobs and bolster the local economy.
“This investment will not only generate strong returns for our members but illustrates the transformative power of private capital when deployed responsibly and with a long-term vision,” according to Deanne Stewart, Aware Super’s chief executive.
Sydney-based Aware Super, a superannuation fund for the education sector, has A$175 billion of assets under management.
