Aware Super, which owns 49.9% of Lendlease’s Retirement Living brand, has appointed Michelle McNally as founding Chief Executive of its real estate division with a $1.3 billion portfolio.
The nation’s third largest superannuation fund, also reportedly looking over QLD-based land lease operator GemLife, has formed its real estate division with Altis Property Partners, a private equity real estate firm, which has been working with Aware Super for more than a decade.
“Aware Real Estate is a force for good in property investment and development, setting new benchmarks for quality, sustainability and community outcomes. We aim to create and manage places that leave a positive lasting legacy,” Michelle told the Financial Review.
Michelle was ISPT’s General Manager, Investor Solutions, Market Strategy and Engagement, from July 2021, and before that Australia Post’s General Manager – Property from August 2018 to July 2021),
“This market will bring opportunities. Investors may struggle to refinance. They may need to return capital, they may need to reweight portfolios,” she continued.
“From that perspective, for investors like ourselves, it gives us the opportunity to invest at improved pricing.”
