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International law firm Allens has advised on a transaction that is being dubbed Australia’s largest hotel real estate sale.
Firm: Allens (a fund managed by the Mirvac Group and the NRMA).
Value: $620 million.
Area: M&A, real estate.
Key players: The Allens team comprised lawyers from multiple practice areas.
From the funds, super and wealth team: Sean Cole (partner), Joshua Gunn (associate), Matthew Wedgwood (overseas practitioner) and Wayne Kwok (law graduate).
From the M&A team: Kounny Rattley (partner), Lisa Gao (senior associate) and Hero Cook (law graduate).
From the property team: Tim Chislett (partner), Sam Fisher (senior associate), Jayne Williams (senior associate), Ilaria Corbett (senior associate), William Rennick (associate), Damian Morris (lawyer) and Gilad Harel (lawyer).
From the intellectual property team: Joel Barrett (partner) and Emma Gorrie (senior associate).
From banking and finance: Jo Folan (partner).
Deal significance: The sale, “which is reported to be the biggest hotel real estate transaction in Australian history”, includes 11 Travelodge hotels and associated assets, a statement from Allens confirmed.
Allens co-lead partner Mr Cole noted: “We’re pleased to have advised Mirvac and the NRMA on this successful competitive sale process which offered bidders the opportunity to bid on a fund-level and/or asset-level transaction structure, through which we were able to leverage Allens leading Funds, M&A and Real Estate cross-practice expertise.”
Co-lead partner Ms Rattley added: “We can congratulate Mirvac and the NRMA on this landmark deal. It represents a vote of confidence for the future of the sector and the economy.”
Meanwhile, co-lead partner Mr Chislett said: “We are thrilled to have worked on this market-defining deal alongside our valued clients, Mirvac and the NRMA. The transaction underscores the ongoing strength and appeal of the Australian real estate sector.”
