Freehills' real estate experts say Australia's real estate sector is increasingly appealing to overseas investors.
The insights come after the firm advised Hines Global REIT on its first foray into the Australian property market with the $88 million acquisition of the Ausenco Building at 144 Montague Road, South Brisbane.
“Hines investment in the local market is a testimony to Australia’s strong real estate sector and its increasing appeal to international investors,’ said Freehills partner Luke Simpson.
“It was great to assist Hines in this transaction, which will no doubt be the foundation of the fund’s ongoing investment in the local market.”
Hines acquired the building from The Trust Company Limited as trustee for the Empirica Management Montague Road Property Trust, with Freehills advising on all aspects of the transaction including structuring, property and financing.
The Freehills team was led by partner Luke Simpson, with support from Partner Phil McMahon, Senior Associate Julie Jankowski, Solicitor Katherine Bennett, Solicitor Paul Klug and Solicitor Pamela Khoo.
Hines Global Real Estate Investment Trust, Inc. (Hines Global REIT) is a Houston-based, public, non-traded real estate investment trust sponsored by Hines.
Hines Global REIT has raised over $1.0 billion so far and currently owns interests in 17 commercial real estate investments with over 6 million square feet under management in the United States, United Kingdom, Russia, Poland and now Australia.