$500m property loans portfolio secured for Australian Unity
A national firm has advised the health insurance company on the financing of a broad-ranging property portfolio.
Firm: Hall & Wilcox (Australian Unity); ABL (Merricks Capital).
Deal: Hall & Wilcox has acted on behalf of Australian Unity — acting in partnership with Merricks Capital — for a $500 million portfolio of senior property loans which include land subdivision, construction financing and bridging finance.
Value: $500 million.
Area: Financial services.
Key players: The Hall & Wilcox team was led by financial services partner Harry New, who was assisted by special counsel John Bassilios and lawyer Avi Gordon.
Deal significance: Speaking about the deal, Mr New said: “It was great to be involved in a transaction that brings together the respective strengths of Australian Unity in originating and managing property finance deals and Merricks’ raising of capital.”
“This partnering seems so natural and logical and we are sure that it will lead to much success,” he said.