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 Corporation (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.

“The acquisition of this portfolio is the latest example of Barings’ ongoing positive outlook for the industrial sector in Australia and continues our investment strategy of targeting well-located precincts with significant underlying value and long-term development potential,” Hannah said. “Importantly, Moorabbin Airport has a long-standing role as a critical aviation hub, supporting flight training, charter and maintenance operations, and we recognise the importance of preserving and supporting these aviation activities as part of the precinct’s future,” he said.

“Barings is confident that Moorabbin Airport will be another strong addition to the Australian portfolio, providing scale in a tightly held infill market, while maintaining the balance between its aviation function and broader precinct uses,” he said.

Tenants at the airport include a range of aviation and industrial firms as well as Kingston Central Plaza, a strong performing large format retail and direct factory outlet precinct. MAC operates the airport, which is the second busiest in the nation with flight training, charter and maintenance operations under a 71-year leasehold granted by the Commonwealth Government.

Hannah said Barings had a strong track record with complex airport and industrial assets, highlighted by the success at Bankstown and Camden Airports in the Sydney area. The Barings Australian portfolio currently consists of more than 120 investments overseen by an experienced and stable leadership team.

Jason Little, CEO Australia, Goodman, said: “Goodman acquired Moorabbin Airport in 2011, and since then has invested significantly in the airport operations and surrounding land to create a thriving precinct. The area comprises high-quality, well-located assets with strong underlying fundamentals, reflecting the value created through Goodman’s active management and development over time.”

Anjana Moran, Aware Super Senior Portfolio Manager for Property said: “Aware Super is proud to invest in Moorabbin Airport on behalf of its 1.3 million members, and we look forward to working with Barings as an experienced and trusted investment manager and other consortium partners to unlock further value through new growth initiatives and development activities.”

Andrew Bambrook, Head of Investments, Real Assets at Rest said “Rest is pleased to invest in Moorabbin Airport alongside Barings and our consortium partners. The asset offers diversified income and long-term development potential in a supply-constrained Melbourne precinct, supporting Rest's focus on resilient, long-term returns for our more than two million members. We look forward to working with our partners to enhance performance and unlock value over time.”

The transaction is subject to customary conditions precedent and regulatory approvals, with settlement expected in mid-2026.

About Moorabbin Airport
Moorabbin Airport is a unique mixed-use precinct with a broad range of income streams across aviation operations, industrial and logistics facilities, large-format retail, office accommodation, and ground lease interests. The asset is underpinned by a high-quality tenant base across logistics, retail, manufacturing, and business services.

In addition to its non-aviation estate, Moorabbin Airport is one of the busiest general aviation airports in the country, supporting flight training, charter and maintenance operations.

Located within one of Melbourne’s most established employment and infrastructure corridors, this acquisition reflects Barings’ continued positive outlook for Australia’s industrial market, particularly in supply-constrained precincts with land scarcity and infrastructure connectivity.

About Barings
Barings is a $481 billion* global alternative asset manager that partners with institutional, insurance, and wealth clients, and supports leading businesses with flexible financing solutions. The firm, which is owned by insurance companies MassMutual and MS&AD, seeks to deliver excess returns by leveraging its global scale and capabilities across credit, real assets, capital solutions and emerging markets.

*As of March 31, 2026

Media contact
Helen Sanderson
Director, Head of Australia Marketing 
helen.sanderson@barings.com

26-5498609