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DLA Piper leads $200m property purchase with Aviva
DLA Piper has advised asset management company Aviva Investors on its acquisition of Australian properties worth about $200 million.
The New Lawyer
DLA Piper has advised global asset management company Aviva Investors on its acquisition of Australian properties worth about $200 million.
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The DLA Piper team was led by joint head of real estate for Asia Pacific, Tom Cantwell and included senior associate, Pablo Fernandez, both based in Melbourne.
The transactions are part of Aviva's strategic plans to amass US$10 billion worth of investment property across Asia Pacific by 2015.
They included the completed acquisition from Mirvac of a 50 per cent share in the major new Woolworths logistics centre at Hoxton Park, NSW for approximately $100 million; and the ongoing acquisition of a portfolio of four industrial properties located in NSW and Victoria for almost a further $100 million.
The acquisition of industrial properties will seed Aviva Australian Logistics Fund, an unlisted Sydney-based property fund.
"We continue to provide advice on potential investments by leading international investment groups into Aviva's property fund and on the expansion of the fund through further acquisitions,” said Cantwell.
"It's pleasing to notice that the Australian and wider Asia Pacific real estate markets continue to emerge as a safe haven for international investors during these turbulent economic times."
