Firms: Herbert Smith Freehills (OUSON Group); HWL Ebsworth (Abacus Property Group and joint venture partners)
Deal: OUSON Group has acquired Towers 2, 3 and 4 of WTC Melbourne from Abacus Property Group and joint venture partners KKR and Riverlee Group.
Value: $267.5 million
Key players: Partner Jane Hodder (pictured) and senior associate Dinh Ptok led the HSF team advising OUSON Group. They were supported by solicitors Hannah Stevens and Stephanie McSwiney, as well as the firm’s corporate team.
Deal significance: Melbourne-headquartered property development company OUSON Group has acquired Towers 2, 3 and 4 of WTC Melbourne from Abacus Property Group and joint venture partners KKR and Riverlee Group.
The three buildings form a complex on the north bank of the Yarra River, with Towers 2 and 3 currently occupied by Victoria Police.
OUSON Group managing director Ryan Ouyang said the $267.5 million acquisition was a sign of things to come for the company.
“We are looking to acquire more similar large-scale outstanding asset opportunities and large land development sites in the near future,” he said.
“We are very pleased to work with the OUSON Group on this significant acquisition, which is a great symbol of where the OUSON Group is at in its rapid growth and success,” said HSF lead partner Jane Hodder.
“This significant acquisition follows the keen interest developers have shown in the area as it becomes subject to a large pipeline of projects in the residential and commercial space, which will transform and re-energise Docklands.”