Funds managed by IFM Investors acquire $300 million shopping centre portfolio

Funds managed by industry-superannuation fund owned global institutional investor and asset manager IFM Investors has acquired a shopping centre portfolio to be developed and built by Australian-owned Oreana with an end value of approximately $300 million, as it seeks to harness a surge in convenience-based shopping.  

The purchase of four sites in Melbourne’s growth suburbs comprise Botanical Village in Mickleham, Deanside Central in Deanside, Riverwalk Town Centre in Werribee and Eynesbury Village near Melton. The portfolio transaction was introduced and managed by Fawkner Property Group, 

It is the first transaction as part of a strategic partnership between IFM, Fawkner Property and Oreana. An integrated developer-builder, Oreana has five centres currently in construction across Melbourne. 

IFM Investors’ Executive Director of Funds Management Kate Mathewson said the transaction signalled long-term institutional confidence in high-growth suburban retail. By targeting high-quality assets in key growth corridors, IFM continues to build on its well established portfolio in the retail sector, with ownership of over 50 convenience shopping centres across Australia. 

“The future of retail growth sits with local and neighbourhood centres in high-growth areas. The ones that succeed will prioritise walkability, convenience, community connection and complementary non-retail uses that bring people together," she said. 

“This is an asset class that is resilient, essential and we believe, positioned to help us deliver for our clients and the millions of working people they represent.” 

The deal comes as Botanical Village in Mickleham recently reached completion opening on 18th March.  The centre spans 7,400 square metres (sqm) of Gross Lettable Area (GLA), anchored by a Coles and 25 specialty stores co-located with an Aspire Early Learning & Kindergarten. The three other assets remain under construction are expected to be delivered over the next 18 months. 

Deanside Central will be the first local shopping centre in Deanside, a growing suburb located between Rockbank and Caroline Springs. The site offers 8,200 sqm GLA, while Riverwalk spans 6,400 sqm GLA. Oreana acquired the 6,700 sqm GLA Eynesbury Village from Resimax Group in July 2025 as part of a deal spanning four stages of the community in Melbourne’s west. 

Fawkner Property is a specialised retail fund manager. The group’s Executive Director, Patch Garnaut said “we are delighted to expand our ongoing relationship with both Oreana and IFM, to which we have now partnered or managed the acquisition of eight neighbourhood shopping centres over the last past two years”. 

Oreana Managing Director Tony Sass said each site represented Oreana’s successful model of developing and building convenience retail co-located with childcare in new communities, providing one-stop-shop benefits. 

“Oreana’s retail model is about more than just delivering a place to shop – it’s about creating a central hub in new communities where daily life is easier and more connected,” he said. 

“Developments like these purchased by IFM, play a vital role in building and uniting greenfield communities, offering residents a shared space to meet, connect and truly feel at home in their growing neighbourhood. 

“The sale of these assets reflects the resilience and growth in demand for local shopping post-COVID, and the unique strength of Oreana’s integrated model that delivers high-quality retail fast and with little fuss.” 

Oreana Group was represented by Stonebridge Property Group. 

For more information or to arrange media interviews, please contact: 
Roxanne Millar / 0425 466 711 / [email protected]  

About IFM Investors

IFM Investors is a global asset manager, founded and owned by pension funds, with capabilities in infrastructure equity and debt, private equity, private credit, real estate and listed equities. Our purpose is to invest, protect and grow the long-term retirement savings of working people. With assets under management of approximately $267.6 billion AUD as of 31 March 2026, we serve over 800 institutional investors worldwide, operating from 16 offices across Australia, Europe, North America and Asia. 

About Oreana

Oreana is a privately-owned Australian integrated property, construction and investment group founded in 1999 by brothers Tony and Steven Sass. Active in Victoria, NSW, Queensland and Western Australia, it focuses on growth corridors, operating across retail, mixed-use, early education, land, residential and commercial. With a pipeline of over $4.8 billion, Oreana’s competitive edge is in its integrated approach that enables it to deliver projects on time and on budget by controlling development, construction and operations under one roof. 

About Fawkner

Fawkner is one of Australia’s largest privately managed real estate investment management firms. Fawkner focusses on the acquisition and management of Essential Services. Fawkner’s national portfolio valued at over $5 billion AUD spans more than 160 assets. Fawkner is a proudly family-owned Australian business and forms part of the Garnaut Group of Companies, run by Chris and Patch Garnaut.