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Forrest Centre finds new owner

Forrest Centre finds new owner

Nicholas.Creed

Two law firms have advised on the sale of a commercial real estate asset in Perth.

Firms: King & Wood Mallesons (Westpac Banking Corporation); HWL Ebsworth (Insurance Commission of Western Australia)

Deal: KWM has acted for Westpac Banking Corporation and a Chinese bank on YT International’s acquisition of the Forrest Centre from the Insurance Commission of Western Australia.

Value: Undisclosed

Area: M&A

Key players: The KWM team was led by partner Nicholas Creed, supported by special counsel Richard Winter and solicitor Darsha Kumar.

Deal significance: The transaction involved PRC law advice from KWM China (led by partner Zhigang Liu) and Maples & Calder Singapore (in respect of the British Virgin Island matters).

The transaction was completed on an expedited time frame, which included undertaking property due diligence and advising on complex lease registration matters.

“We were delighted to assist Westpac and their Chinese bank syndicate partner on the financing of YT International Pty Ltd to acquire this prominent commercial asset in Perth,” said Mr Creed.

“It was particularly enjoyable to work with our Beijing colleagues providing PRC and Australian law advice under the one roof.”  

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