Deal: Allens has advised property specialist LOGOS Group (LOGOS) on the acquisition by ARA Asset Management (ARA) of a majority stake in LOGOS Group.

Lander & Rogers has advised ARA Logistics Venture 1 Limited (the investing entity) and its parent ARA Asset Management Ltd. on its acquisition (by both subscription and transfer) of a majority stake in the LOGOS Group and its related bodies corporate (together the Logos Group).

The deal combines ARA’s global fund management capabilities with LOGOS’ extensive logistics, property and development expertise to create a leading investment management platform in the Asia region.

Value: Undisclosed. 

Area: Corporate, M&A, real estate

Key players: The Allens corporate M&A team was led by partner Tom Story, senior associate Adrian Amer, associate Miles Ma and lawyer Andrew Mon.

The funds team was led by partner Penny Nikoloudis and associate Jamil Diu whilst the banking & finance team was led by partner Ben O’Hoy and associate Will Chen.

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The employment team consisted of managing associate Sikeli Ratu and associate Katherine Werren.

The Landers’ corporate M&A team was led by partners Jared Smith, Deanna Constable and special counsel Eddy Goldsmith along with senior associates Joann Yap, Faiza Bukhary and lawyer Dominic Ho.

The real estate team consisted of partners John Wells, Lee Wolveridge and lawyer Wilson Luong whilst the employment team was led by partner Christian Mooney and lawyer Aras Mollison.

The competition team was headed by partner Robert Neely whilst partner Terry Brigden led the regulatory team. 

Deal significance: LOGOS has over 5 million square metres of property owned and under development, with a completed value of S$8.2 billion, across 17 ventures. 

As a result of the acquisition, it will operate as ARA’s exclusive platform for logistics assets in the Asia region.

Through this transaction, the ARA group and the LOGOS Property Group have expanded their logistics real estate platform in the Asia-Pacific region.

ARA Group CEO, Mr John Lim, said on the deal: “This acquisition marks an exciting milestone for both ARA and LOGOS and we both look forward to expanding our logistics platform in Asia Pacific.

"We will be able to offer our investors a comprehensive set of investment vehicles across the risk spectrum to meet their investment needs in the logistics real estate space via the new platform.”

“ARA joins LOGOS’ existing shareholders, Ivanhoé Cambridge and the LOGOS founders, and will work with them to strengthen LOGOS’ leading position in the Asia region,” Allens partner Mr Story said.  

“This is a significant milestone transaction for both LOGOS and ARA. It was a pleasure to assist LOGOS to execute this complex cross-border transaction, demonstrating continued appetite for logistics assets in the Asia-Pacific region.”

Lander & Rogers advised on and prepared the FIRB application, and acted as lead counsel on the due diligence aspect of the transaction. 

The due diligence concerned a target group of over 200 entities across multiple jurisdictions, and included analysis of key transaction and go-forward control, termination, fee security and other issues in respect of the more than 20 venture funds in which the LOGOS Property Group is invested.

Lander & Rogers joint lead partners Jared Smith and Deanna Constable said on the acquisition: “It is always a thrill to be working with a world class client, alongside world class lawyers in respect of world class assets/ The LOGOS team has created a globally noteworthy business and we are privileged to have partnered with the ARA team as it creates this expanded AsiaPac property investment platform.”

Macquarie Infrastructure and Real Assets Real Estate also sold its entire interest in LOGOS Group, as part of the acquisition.