Global law firm Herbert Smith Freehills has advised the Clean Energy Finance Corporation (CEFC) on its financing of a sustainable residential development located in Northcote, Melbourne.
Firm: Herbert Smith Freehills (CEFC).
Deal: CEFC has completed financing of a sustainable residential development located in Northcote, Melbourne.
Value: $54 million.
Key players: The Herbert Smith Freehills team was led by partner Melita Cottrell, senior associate Adam Roberts and solicitor Aadi Dev Sabharwal.
Deal significance: The project is described as an 8-star housing development, which involves the construction and sale by property developer Metro of 74 semi-detached town houses "with market leading sustainability features and low emission technology initiatives including electric vehicle infrastructure and low carbon building materials".
“We are pleased to advise on this landmark investment in the sustainable development arena," said HSF partner Melita Cottrell.
"We are thrilled to have assisted with the transaction which will embed a wide range of sustainable and clean energy initiatives into new residential developments.”
Senior associate Adam Roberts added: “Congratulations to the CEFC on this milestone transaction, marking yet another success in leading investment in Australia’s transition towards a low emissions economy. Herbert Smith Freehills is proud to have facilitated this sustainable residential development and we look forward to continuing to support the CEFC in the future”.