find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Former Red Cross headquarters sells for $124m

Former Red Cross headquarters sells for $124m

Les Koltai DLA Piper

An international real estate investment company has acquired the former Australian Red Cross headquarters building in Sydney.

Firms: DLA Piper (Union Investment Real Estate); Kemp Strang (St Hilliers Pty Limited)

Deal: Union Investment Real Estate purchased the former Red Cross headquarters building from St Hilliers.

Value: $124 million

Area: M&A

Key players: DLA Piper’s head of real estate in Australia Les Koltai (pictured) led the team and was supported by senior associate Bhavini Sundarjee, solicitors Jennifer Tropiano and Eva Chapple, with tax senior associate Eddie Ahn and corporate solicitor Rohila Ramini.

Deal significance: Union Investment is a Germany-based international real estate investor that entered the Australian market last year.

Union Investment has acquired the former Australian Red Cross building owned by St Hilliers for $124 million.

The building, located at 155 Clarence Street, Sydney, is the city's newest A-grade office tower having undergone a major redevelopment, completed earlier this year.

Mr Koltai said: "We're delighted to have advised Union Investment on this latest acquisition. Since their entry into the Australian real estate market last year, they have remained focused on acquiring some of the largest and highest-quality commercial premises in major business centres."

This is the second major real estate investment by Union Investment in Australia, following their acquisition of the Flight Centre Travel Group headquarters development in South Bank, Brisbane in April 2014 for $200 million.

Like this story? Subscribe to our free newsletter and receive Lawyers Weekly every day straight to your inbox.

 

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

Former Red Cross headquarters sells for $124m
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Aug 16 2017
Urgent criminal law reforms can prevent ‘unwarranted acquittals’
Concerns about unfair prejudice arising from the use of tendency and coincidence evidence are mispla...
Aug 15 2017
Press Control-S on your firm
Promoted by BHL Software It’s now a truism that when your IT systems stop working, so does you...
Aug 15 2017
The Importance of Leadership Skills for Aspiring Lawyers
Promoted by LHD Lawyers Even the most prominent lawyers of our age (or ages past, for that matter...
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 & ...