AustralianSuper hired Bentall Kennedy as the A$100 billion ($75.7 billion) Melbourne-based superannuation fund's real estate manager in Canada, with a mandate to pursue commercial real estate investment opportunities, confirmed AustralianSuper spokesman Stephen McMahon.
In an e-mail, Mr. McMahon said AustralianSuper didn't have a specific target for real estate investments in Canada.
A joint news release Tuesday said Bentall Kennedy will make investments on behalf of AustralianSuper in segments such as “large-scale commercial business district office properties, regional malls and mixed-use development opportunities in Canada's major urban centers.”
AustralianSuper reported its balanced default option had a 9.1% allocation to direct real estate as of the June 30, 2015, close of the latest fiscal year for which the fund has announced results.
