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
Minters, Allens and G+T act on $1.9bn Charter Hall deal

Minters, Allens and G+T act on $1.9bn Charter Hall deal

Minter Ellison, Allens Arthur Robinson and Gilbert + Tobin have advised on the $1.9 billion real estate deal that saw a consortium buy ASX-listed Charter Hall office REIT.

Minter Ellison, Allens Arthur Robinson and Gilbert + Tobin have advised on the $1.9 billion real estate deal that saw a consortium buy ASX-listed Charter Hall office REIT.

Charter Hall Office REIT has been acquired by a consortium comprising Reco Ambrosia, an affiliate of Government of Singapore Investment Corporation, the Canadian pension fund Public Sector Pension Investment Board, and Charter Hall Property Trust.

Minter Ellison advised the syndicate of banks, while Allens advised the consortium. Gilbert + Tobin advised Charter Hall Office REIT on the deal.

The acquisition was by court-approved scheme of arrangement. The US$1.71 billion sale of Charter Hall Office REIT's US property portfolio was a precondition of the transaction. Charter Hall Office REIT has now been delisted.

Charter Hall Office REIT owns interests in 18 commercial office buildings across Australia with a portfolio valuation of approximately A$1.9 billion.

A syndicate of banks provided the A$1 billion financing in relation to the acquisition.

Daniel Marks, the lead Minter Ellison partner on the deal, said the privatisation “highlights the continued investment interest of offshore sovereign wealth funds and pension funds in well-managed quality Australian property portfolios, and the ability to attract syndicated debt."        

Marks said the conditionality, risks and timing around the sale of the US-asset portfolio introduced complexity into the scheme of arrangement and the associated debt finance conditions. 

Lawyers in the Minters team said the property portfolio included a number of complex co-ownership holdings in commercial office buildings, including a development asset, requiring negotiation of documentation with several different co-owners as a pre-condition to financial close and scheme implementation.

 

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

Minters, Allens and G+T act on $1.9bn Charter Hall deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Oct 19 2017
‘Ego status’ compelled ex-lawyer to defraud $2.97m, court told
Debarred lawyer John Gordon Bradfield told an NSW District Court that he was driven by “ego status...
Australian Lawyers Alliance (ALA), Queensland’s new industrial manslaughter legislation,
Oct 19 2017
ALA welcomes ‘tough’ Qld manslaughter laws
The Australian Lawyers Alliance (ALA) has welcomed Queensland’s new industrial manslaughter legisl...
Legal podcasts, tune in, microphone
Oct 19 2017
Legal podcasts you have to tune in to right now
The rise of the internet has hailed in a new dawn for storytelling. Here’s our top pick of podcast...
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 & ...