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Real estate asset manager embarks on multimillion-dollar refinancing

Real estate asset manager embarks on multimillion-dollar refinancing

Real estate asset manager embarks on multimillion-dollar refinancing

Herbert Smith Freehills has acted for a prominent real estate asset manager in its $174 million refinancing.

Firms: Herbert Smith Freehills (Real I.S. AG and Real I.S. Australia Pty Ltd); Sparke Helmore (Westpac Banking Corporation)

Deal: Real I.S. AG and Real I.S. Australia Pty Ltd have been advised on a refinancing in relation to the Geoscience Australia building in Canberra.

Value: $174 million

Area: Finance

Key players: The Herbert Smith Freehills team was led by Lucy McCullagh, with assistance from senior associate Oanh Ho and graduate James Paolucci.

Deal significance: Real I.S. is one of Germany’s most prominent real estate asset managers, and has more than €6.5 billion of property under management and operates in Germany, France, Luxembourg and Australia.

According to a statement from Herbert Smith Freehills, this transaction involved working closely with parties and advisers located in Munich, Cologne, Sydney and Canberra.

Commenting on the deal, lead partner Lucy McCullagh said: “It was a pleasure to work closely with Real I.S. in Munich and Sydney on achieving a successful refinancing”.

“The Geoscience Australia building is a terrific example of Real I.S. Australia’s portfolio, being a property with environmentally sustainable characteristics tenanted, under a long term lease, by a government tenant being Geoscience Australia – Australia’s pre-eminent public sector geoscience organisation,” she said.

 

 

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