$200m for Queen St building

By Grace Ormsby|02 June 2019

A Boston-based real estate investment manager has purchased a commercial office building in Melbourne’s Queen Street.

Firm: Baker McKenzie (AEW Capital Management LP)

Deal: Baker McKenzie has advised AEW Capital Management LP on its Melbourne office building purchase.

Value: More than $200 million

Area: Real estate, M&A

Key players: Baker McKenzie’s team was led by corporate real estate partners Roy Melick in Sydney and Dora Stilianos in Melbourne, with assistance provided by Michael Diston, James Geremia and Rachel Brownlee. Special counsel Leo Vellis, with Brenton Worth supporting, advised on deal structuring. Financing advice was provided by special counsel Adam Jeffrey, with assistance from Elizabeth Athanassios.

Deal Significance: According to Baker McKenzie, Boston-based AEW Capital Management is one of the largest real estate investment managers in the world.

Advertisement
Advertisement

With a purchase price in excess of $200 million, AEW Capital Management has acquired a commercial office building at 31 Queen Street, Melbourne, it was noted.

Baker McKenzie flagged that AEW Capital Management has US$74.8 billion in assets under management globally and has recently grown its Australian portfolio through a series of major acquisitions.

Commenting on the deal, Roy Melick said: “We were delighted to have acted for our client, AEW, on what was a significant and opportune commercial real estate acquisition in the very competitive Melbourne commercial property market.”

This email address is being protected from spambots. You need JavaScript enabled to view it.

$200m for Queen St building
Intro image
lawyersweekly logo
Big Law

latest

Slaters hits Colonial First State with class action on behalf of 500,000 Australians

Victorian principal found guilty on 9 charges

Maurice Blackburn circles MySuper with new class action

Ruling that litigation funders must pay security for costs has numerous implications