Firms: Mills Oakley (AFIAA); Herbert Smith Freehills (M&G Real Estate Asia)
Deal: Switzerland-based AFIAA has been advised on two related transactions, which recognise the sale of a commercial property in Brisbane to London-based M&G Real Estate and the purchase of a Melbourne CBD property from M&G.
Value: $300 million
Area: M&A, finance, property
Key players: The legal team advising AFIAA was led by Mills Oakley property partner Pablo Fernandez, with assistance from special counsel Damiano Castelli, partner Tom Cantwell, associate Holly Cormie and law clerk Benjamin Kane.
Advice relating to the financing of these transactions was provided by Mills Oakley banking and finance partner Monique Stella, who was assisted by lawyer Isabella Barnes.
Deal significance: The Brisbane property, HQ South Tower in Fortitude Valley, sold for approximately $120 million, while the Melbourne property, 628 Bourke Street, sold for approximately $180 million.
Both transactions reached financial close this month, according to a statement by Mills Oakley.
Lead partner Pablo Fernandez said that these deals showcased Mills Oakley’s all-round strength in major real estate transactions, with several teams across jurisdictions working collaboratively.
“The deals were not without their challenges but a solid all-in effort allowed us to get the result, he said.
“We were delighted to assist with these transactions, which reaffirm AFIAA’s commitment to the Australian market.”