Aware Super acquires $226m real estate investment

Aware Real Estate has expanded its Sydney CBD office portfolio, acquiring a 50% stake in 100 Market Street for approximately $226 million in a move that strengthens its exposure to prime commercial real estate.

The investment establishes a new partnership with Link Asset Management, with the two firms jointly overseeing the A-grade office tower, which compromises 28,339 square metres of office space across 10 levels.

The building is fully leased to a high-quality tenant base, a Commonwealth government agency and a sovereign wealth fund. It also benefits from direct integration with Westfield Sydney, strong transport connectivity and a 5.5-star NABERS Energy rating.

Aware Real Estate, the property investment platform established by Aware Super said the acquisition aligns with its strategy of investing in institutional-quality office, retail and industrial assets capable of generating resilient long-term returns.

Head of investment and capital transactions Pete Carstairs said the purchase represented high-conviction investment in one of Australia's premier office markets.

"100 Market Street is a high-quality CBD office asset that aligns strongly with our long-term investment strategy and commitment to delivering sustainable value for our investor, Aware Super, and its members," Carstairs said.

"We are pleased to partner with Link, whose experience with the asset complements our own investment and asset management expertise. Together, we look forward to stewarding the future of this asset through a collaborative partnership focused on long-term performance, tenant outcomes and value creation."

Aware Super head of property Alek Misev said the transaction demonstrated the fund's continued confidence in Sydney's prime office market.

"This was a rare opportunity for the Aware Real Estate platform to acquire a high-quality Sydney CBD office asset with cornerstone government and corporate tenants. Ideally located near transport and retail amenities, the building is well positioned to remain in demand through market cycles while appealing to a diverse range of businesses,"  Misev said.

"The 100 Market Street investment also reflects our continued confidence in the long-term strength of the Sydney CBD office market, where we continue to see opportunities to invest in high-quality institutional assets with strong tenant demand and enduring fundamentals."

Aware Real Estate chief executive Tracey Whitby said the acquisition reflected the platform's focus on building a portfolio of high-quality assets capable of delivering sustainable outperformance for Aware Super's 1.3 million members.

The transaction expands Aware Super's $16 billion property portfolio, adding to existing office holdings including 145 Ann Street in Brisbane and 207 Pacific Highway in St Leonards.