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Iconic Chatswood property sold
A consortium has acquired The Zenith for more than $279 million with assistance from multiple firms.
Lara Bullock
Firms: Allens (BlackRock Investment Management and Centuria Property Funds Limited); MinterEllison (The Zenith vendor); Clayton Utz (Centuria Property Funds Limited's unit trust)
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Deal: A BlackRock investment client and Centuria Property Funds Limited made a joint acquisition of The Zenith.
Value: More than $279 million
Area: M&A
Key players: The Allens funds team was led by partner Marc Kemp (pictured), with assistance from senior associate Eve Regnard and associate Rebecca Sheehy.
The Allens real estate team was led by partner Nicholas Cowie, with assistance from senior associate Claudina Vranken, associate Chris Clark, and graduates Emma Bowers and Ryan Jameson.
Deal significance: A BlackRock investment client and Centuria Property Funds Limited made a joint acquisition of The Zenith.
The iconic Chatswood property, which consists of two 21-storey towers, was purchased by the consortium for more than $279 million.
The purchase is the first acquisition for the joint venture partners acting together.
Contracts for sale of the property exchanged on 18 May.
"We are delighted to have assisted BlackRock and Centuria with their first joint acquisition," Allens lead partners Marc Kemp and Nicholas Cowie said.
"We congratulate BlackRock and Centuria on the purchase of one of the north shore's premier office assets."
