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Real estate developer adds $360m site to portfolio

Real estate developer adds $360m site to portfolio

Two firms have advised on the acquisition of a 9.4-hectare site in the peninsular suburb of Wentworth Point, in a deal worth $360 million.

Firms: Ashurst (Sekisui House); MinterEllison (Roads & Maritime Services)

Deal: Sekisui House has acquired 14A Hill Road, Wentworth Point.

Value: $360 million

Area: Real estate

Key players: The Ashurst team advising Sekisui House was led by corporate partners Pauline Tan and Barbara Phair.

Deal significance: Sekisui House was founded in Japan in 1960 and has a strong presence in Australia.

The real estate developer has over $2 billion currently invested in projects across the country, with more planned over the next 20 years.

This acquisition of 14A Hill Road, Wentworth Point will see the company acquire a further 9.4 hectares of Australian land, worth $360 million.

Ashurst corporate partner Pauline Tan said the acquisition is one of Sekisui House's most significant milestones since entering the Australian market in 2009, and firmly positions Sekisui House as one of the foremost property developers in the country.

“We are delighted to have advised Sekisui House in this significant acquisition at Wentworth Point,” she said.

“The site is an excellent addition to the company's existing developments and we are pleased to have advised on this milestone.”

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