find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Multi firm effort on Charter Hall acquisition

Multi firm effort on Charter Hall acquisition

Allens, Mallesons, Freehills and Blake Dawson have all acted on a property funds management company's A$108 million acquisition of the majority of Macquarie Group Limited's core real estate management platform.


Allens Arthur Robinson, Mallesons Stephen Jaques, Freehills and Blake Dawson have all acted on a property funds management company's A$108 million acquisition of the majority of Macquarie Group Limited's core real estate management platform. 


Charter Hall Ltd will have more than $10 billon in assets under management after the purchase of the majority of Macquarie's real estate management platform, the company said last week.


The company said it would buy 7.5 per cent of Macquarie Office Trust and Macquarie CountryWide Trust, as well as 3.5 per cent of Macquarie Direct Property Fund, for $189 million. 


Allens is advising Charter Hall on the $108 million acquisition. 


The transaction is being financed by a A$220 million fully underwritten placement and entitlement offer and an additional placement of A$85 million to Macquarie, will see Charter Hall become one of the largest specialist real estate fund managers and property owners in Australia.


Lead Allens partner Stuart McCulloch, with partners Anna Lenahan and Tom Story, brought a team together from the firm's corporate, funds management, banking and finance, and employment practice groups.


Advising on both the acquisition and the equity raising – and the legal due diligence for Charter Hall in Australia – the transaction marks a close working relationship between Charter Hall and Allens that began in 2005 for Charter Hall's initial public offering.


"Allens has worked with Charter Hall on all major corporate and fund transactions since then and has developed a solid understanding of its businesses and operations," said McCulloch.


"We were very pleased to be able to continue to support Charter Hall on this complex, strategic deal and help put Charter Hall on its growth path to becoming a leader in its field," he said.


Nicholas Moore, Macquarie managing director and chief executive officer said: "Consistent with our strategy regarding the listed specialist funds business, Macquarie has undertaken a process to explore alternatives in relation to the future of Macquarie’s Australian real estate platform and maximise value for investors. 


"As a result of this process, Macquarie has identified Charter Hall as a partner with a specialised real estate capability which Macquarie believes will be attractive for Fund stakeholders," he said.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Multi firm effort on Charter Hall acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice, ALA, right-to-die law
Oct 24 2017
‘Right-to-die’ laws would be a relief for terminally ill: ALA
The passage of an assisted dying bill through the lower house of Victorian Parliament has been haile...
Diversity
Oct 24 2017
Diversity top of agenda for future WA Law Society president
The advancement of diversity in the Western Australian legal profession will be one of the key items...
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...