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Global firm Hines moves into Oz
Freehills and Clinton Mohr Lawyers have advised on the first Australian real estate purchase by global property firm Hines
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Firms: Freehills (Hines Global REIT) Clinton Mohr Lawyers (vendor)
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Deal: Hines’ acquisition of the Ausenco Building at 144 Montague Road, South Brisbane
Area: Property
Value: $88 million
Key players: The Freehills team was led by partner Luke Simpson (pictured), with support from partner Phil McMahon, senior associate Julie Jankowski, solicitor Katherine Bennett, solicitor Paul Klug and solicitor Pamela Khoo. Principal Clinton Mohr, of his Queensland based firm, acted for the vendor.
Deal significance: Hines acquired the building from The Trust Company Limited as trustee for the Empirica Management Montague Road Property Trust. Hines Global Real Estate Investment Trust Inc (Hines Global REIT) is a Houston-based, public, non-traded real estate investment trust sponsored by Hines. It has raised over $1 billion thus far and currently owns interests in 17 commercial real estate investments with over six million square feet under management in the US, UK, Russia, Poland and now Australia.“Hines’ investment in the local market is a testimony to Australia’s strong real estate sector and its increasing appeal to international investors,” said Simpson.
