find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Real Estate & Projects Lawyer (6+ years PAE)
Category: Property Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Top tier firm with offices nationally · High profile clients
View details
ASX-listed company sells off Japanese property portfolio

ASX-listed company sells off Japanese property portfolio


One of the last remaining Aussie real estate investment trusts to have a stake in real estate in Japan has sold its Japanese portfolio to a private equity firm.

Firms: Herbert Smith Freehills, Nagashima Ohno & Tsunematsu (Astro Japan Property Trust); Ashurst, Morrison & Foerster, Nishimura & Asahi (Blackstone); Johnson Winter & Slattery, White & Case (Spring)

Deal: ASX-listed Astro Japan Property Trust (Astro) has sold its portfolio of Japanese retail, office and residential properties to Blackstone.

Value: A$1.1 billion

Area: Finance

Key players: The HSF team advising Astro was led by partner Justin O’Farrell (pictured). Senior associate Brock Colville and graduate lawyer Curtis Vella assisted with the deal.

Rintaro Hirano, a partner of law firm Nagashima Ohno & Tsunematsu, advised Astro on the Japanese aspects of the deal.

Deal significance:  Private equity firm Blackstone has purchased Astro’s Japanese portfolio comprising retail, office and residential properties for A$1.1 billion.  

Astro is an ASX-listed property group focused on the Japanese real estate market. According to lead HSF partner Justin O’Farrell, who advised the group, it is also the last remaining of the Australian real estate investment trusts (A-REITs) to have invested in Japanese real estate.

“The cross-border requirements for dealings with this kind of vehicle have always presented their fair share of intellectual challenges, and this deal has been no exception,” Mr O’Farrell said.

“The A-REIT and real estate markets remain very active, and Herbert Smith Freehills continues to be at the forefront of deals in this area,” he said.

HSF said that earlier this year Mr O’Farrell had also advised another major property fund in a scheme for its buyout.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

ASX-listed company sells off Japanese property portfolio
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
Aug 21 2017
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...