ALLENS Arthur Robinson has acted for Charter Hall Group, an Australian property funds management and development company, on a A$118 million raising with strategic investment from Gandel Group, the property investment group.
Allens advised Charter Hall on its $73 million listed equity raising, comprising a placement to the Gandel Group of $24 million and a fully underwritten 2 for 7 accelerated non-renounceable entitlement offer to raise $49 million.
Gandel Group's strategic investment also included the acquisition, from Charter Hall, of a $30 million stake in the unlisted Core Plus Office Fund and a $15 million commitment to a proposed new Special Situations Fund.
The Allens' team, led by partners Stuart McCulloch and Anna Lenahan and supported by senior associates Eve Regnard and Zoe Green, advised Charter Hall on all aspects of the transaction.
McCulloch said: "It was important for both our client Charter Hall and Gandel Group's long-term strategic goals that this part of the transaction was executed quickly and efficiently.
"It is always a pleasure to work alongside great teams – in this case Charter Hall, as they worked with Gandel Group – at a time when they need our expertise and knowledge of their business, as well as capital raisings of this nature", said Lenahan.
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