find the latest legal job
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Academic Dean and Head of School of the TC Beirne School of Law
Category: Other | Location: Brisbane QLD 4000
· An outstanding opportunity · Provide educational, research and organisational leadership
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Arncliffe NSW 2205
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: All Sydney NSW
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Sydney NSW 2000
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Multimillion-dollar property portfolio sold

Multimillion-dollar property portfolio sold

A blue chip property portfolio has been sold for more than $174 million, in what is said to be the largest diversified property sale for 2016.

Firms: Massons (Denison Funds Management Ltd); Allens (Propertylink)

Deal: Propertylink has purchased a blue chip property portfolio from Denison Funds Management Ltd (Denison).

Value: $174.35 million

Area: Property

Key players: The Massons team advising Denison was led by partner Jodie Masson. Senior associate Ole Mitrevski assisted with the deal.

The Allens team advising Propertylink was led by partner Michael Graves.

Deal significance:

Propertylink has purchased the diversified property portfolio from Denison for $174.35 million. According to Massons, which advised the vendor on the sale, the deal is believed to be Australia’s biggest diversified property sale for 2016.

The blue chip portfolio includes 13 properties in Queensland, NSW, Victoria and Western Australia. Collectively, over 125 leases are attached to the sites.

Massons acted on the leasing of Denison’s national portfolio prior to acting on the portfolio sale.

Denison is a portfolio company of fund Forum Asian Realty Income III LP. The fund’s general partner is an affiliate of global real estate investment management firm Forum Partners Investment Management LLC.

Propertylink is an Australian property fund manager that recently completed its initial public offering.

In a statement released by Massons, partner Jodie Massons said her team was pleased to have worked on the successful portfolio sale.

“We loved working on this transaction; it’s exactly the sort of work that we are good at because it involves thinking outside the square.

“There were so many moving parts that it involved the whole firm. I’m really proud of the way that the team worked together seamlessly to achieve the best possible result,” Ms Masson said.

Like this story? Read more:

Book commemorates diamond milestone for WA law society

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

Multimillion-dollar property portfolio sold
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Gavel, legal book, criminal lawyers
Jan 19 2018
Three criminal lawyers named NSW magistrates
The NSW Attorney-General has announced the appointment of three new local court magistrates. ...
Warning
Jan 18 2018
Lawyer highlights ‘unintended consequences’ on SSM estate planning
A succession lawyer has warned that the right for same-sex couples to legally marry could have a sub...
drug rehabilitation services available in rural and remote communities
Jan 18 2018
ALS survey shines spotlight on insufficient rehabilitation services
A new survey posted by the Aboriginal Legal Service (NSW/ACT) has revealed an alarming insight into ...
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 & ...