Firms: Nexus Law Group (purchasers, advising on debt); Gadens (purchasers, acting on property and corporate); Allens (banking syndicate)
Deal: The acquisition of commercial buildings in the Sydney CBD at 338 Pitt Street and 126 Liverpool Street.
Value: Debt of greater than $150 million
Key players: Justin Sprogis (pictured), consulting principal from Nexus Law Group, was the primary legal adviser to the purchaser joint venture.
Allens’ banking partner Mark Kidston, senior associate Sarah Glenn and lawyer Tyson Reid acted for the syndicate agent and lenders on the debt funding.
John Grimble, partner of Gadens Sydney, led the property team acting for the joint venture purchasers on the corporate and property aspects of the transaction.
According to Nexus Law Group, this transaction represents the culmination of over three years in planning, development and property and debt negotiations.
“Deals of this size and complexity can only be successful if all parties are experienced, commercial and practical in their negotiations and dealings with each other,” Mr Sprogis said.
“Together with the great teams at Allens and Gadens, we have achieved something very significant for the Sydney CBD and I am very excited to see what will become of these sites.”