Barings, an alternative investment manager, has said it is leading a consortium of property investors and major Australian superannuation funds that has agreed to purchase Melbourne’s Moorabbin Airport for A$1.5 billion ($1.1 billion).
Barings Real Estate Australia will oversee the Moorabbin Airport property, including facilitating future development activities. Goodman Group, the current owner of the airport, will reinvest alongside the consortium of institutional investors, including Aware Super and Rest Super.
Shaun Hannah, executive director, Barings Real Estate Australia, said the off-market acquisition of Goodman’s Moorabbin Airport Corp. (MAC) consists of a 294-hectare strategic landholding with diversified uses, strong income, development potential, and exposure to a tightly supplied, high-demand Melbourne market.
Tenants at the airport include a range of aviation and industrial firms as well as Kingston Central Plaza, a strong performing large forma
