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AMP advised on 'city-defining move'

AMP advised on 'city-defining move'

Sydney

One firm has advised AMP Capital Diversified Property Fund and AMP Capital Wholesale Office Fund on various components of Sydney’s Quay Quarter development and related acquisition of the city’s 33 Alfred Street.

Firm: King & Wood Mallesons (AMP Capital Diversified Property Fund and AMP Capital Wholesale Office Fund)

Deal: AMP Capital Diversified Property Fund (ADPF) and AMP Capital Wholesale Office Fund (AWOF) has been advised on various components of the Quay Quarter development at 50 Bridge Street and the related approximately $430 million acquisition of AMP’s 33 Alfred Street.

Value: $430 milllion

Area: Finance, M&A

Key players: The legal team involved in this deal included KWM partners Will Whitaker and Paul Crawford, senior associate Francesca Giorlando, and solicitors Ramya Kumar and Cassandra Steinmetz, who acted for ADPF and AWOF on the 36,000-square metre pre-commitment at Quay Quarter Tower, along with advising on interface issues between 33 Alfred Street and 50 Bridge Street.

Mr Whitaker also advised ADPF and AWOF on the acquisition of 33 Alfred Street, as did KWM senior associate Jessica Wallis and solicitor Elaine Asimakopoulos.

Meanwhile, KWM special counsel Leah Ranie and partner Katrina Parkyn acted on GST and taxation components.

Deal significance: The successful sale of 33 Alfred Street will allow AMP to relocate its Sydney headquarters, with the group recently committing to the anchor tenancy of its planned $2 billion Quay Quarter Tower development.

The landmark Quay Quarter project is set to redefine the Circular Quay precinct, through its scale and technological innovations.

Mr Whitaker said KWM was delighted to support longstanding client AMP in relation to the development and recent acquisition.

“KWM’s experienced team, which offers impressive transactional credentials across multiple practice groups, looks forward to continuing to provide AMP innovative and tailored legal solutions during its ongoing development process,” he said.

 

 

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