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A-grade office building acquired

A-grade office building acquired

David Sinn, Herbert Smith Freehills

A global firm has advised Growthpoint on its acquisition of a fully leased A-grade office building in South Melbourne.

Firms: Herbert Smith Freehills (Growthpoint Properties Australia Limited); Mills Oakley (SachsenFonds)

Deal: Growthpoint acquired a fully leased A-grade office building in South Melbourne.

Value: $166 million

Area: M&A

Key players: The Herbert Smith Freehills team was led by the firm’s head of real estate Australia and Asia, David Sinn (pictured), with support from solicitors Jean Liu and Emma Larkin.

Deal significance: Growthpoint Properties Australia Limited (Growthpoint) is an ASX-listed Australian real estate investment trust (A-REIT) specialising in the ownership and management of quality investment property.

Growthpoint has acquired a fully leased A-grade office building located at 75 Dorcas Street, South Melbourne from SachsenFonds for $166 million.

The newly renovated 11-storey building is 100 per cent leased to several high-profile tenants, including ANZ, food conglomerate Mondelez and BMW.

“This acquisition is yet another substantial addition to Growthpoint’s $1.6 billion office portfolio across Australia,” Mr Sinn said.

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