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