find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (1-3 PAE)
Category: Insurance and Superannuation Law | Location: Sydney NSW 2000
· Join a dynamic Firm · Excellent career growth opportunity
View details
In-house lawyer 1-4 PAE
Category: Generalists - In House | Location: Adelaide SA 5000
· Leading Brand · Report to a Dynamic Legal Counsel
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:

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

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Multimillion-dollar property portfolio sold
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
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 & ...