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$142m sale of Vic property portfolio complete

$142m sale of Vic property portfolio complete

David Sinn

Two firms have advised on the $142 million sale of a Victorian industrial property portfolio to a Singapore-listed company.

Firms: Herbert Smith Freehills (Growthpoint Property Australia); Squire Patton Boggs (Mapletree Logistics Trust)

Deal: Growthpoint Properties Australia has sold its Victorian property portfolio to Sinagpore-listed Mapletree Logistics Trust.

Value: $142 million

Area: M&A

Key players: The legal team advising Growthpoint Property Australia was led by Herbert Smith Freehills senior associate Carla Deluca and solicitor Jean Liu, and supervised by partner David Sinn.

Deal significance: Growthpoint Property Australia’s Victorian industrial property portfolio consisted of: 28 Bilston Drive, Barnawartha; 99-103 William Angliss Drive, Laverton North; 213-215 Robinsons Road, Ravenhall; and 365 Fitzgerald Road, Derrimut.

“We were delighted to help Growthpoint achieve the sale of these four premium industrial assets,” Herbert Smith Freehills partner David Sinn said.

“The sale of this portfolio has been a very successful outcome consistent with Growthpoint’s business strategy following its successful takeover of the GPT Metro Office Fund earlier this year, which we were fortunate enough to also assist on.”

 



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