Big Law

Lloyds sells off real estate loans

Minters and Freehills have acted on a distressed property loan sale

June 13, 2012 • By Digital

Firms: Minter Ellison (Lloyds International Pty Ltd), Freehills (AET SPV Management Pty Ltd)

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Deal: Two subsidiaries of Lloyds International Pty Limited – BOS International (Australia) Limited (BOSI) and Capital Finance Australia Limited (CFAL) – have entered into an agreement to sell a portfolio of Australian corporate real estate loans to AET SPV Management Pty Ltd. The purchaser is a joint venture of funds sponsored by Morgan Stanley Real Estate Investing (MSREI) and Blackstone Real Estate Partners

Area: Finance/Corporate

Value: $620 million

Key players: Corporate partner Victoria Mathewson led for Minters, alongside partners

John Elias, Daniel Scotti, Lindsay Powers and David McElhone. John Nestel led for Freehills

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Deal significance: This is a strategically significant transaction for the Lloyds Group and is Lloyds International's second distressed property loan sale in Australia.

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Lloyds sells off real estate loans