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Multimillion-dollar property deal reaches completion

A global firm has advised a private Australian company on the high-profile sale of a Canberra property.

Firm: Herbert Smith Freehills (TC Advisors Australia Investment Management Pty Ltd); Undisclosed (Mirae Asset Financial)

Deal: TC Advisors Australia Investment Management Pty Ltd has been advised on an office sale to Mirae Asset Financial.

Value: $321 million

Area: M&A

Key players: The legal team advising TC Advisors Australia Investment Management Pty Ltd was led by Herbert Smith Freehills senior associate Carla Deluca and solicitor Emma Larkin, with supervision by partner David Sinn (pictured).

Deal significance: The office sale represented a commercial property at 50 Marcus Clarke Street in Canberra. Among its tenants is the federal government.

According to a statement from Herbert Smith Freehills, the transaction marks the largest property deal since the start of 2017.

“We were delighted to help TrustCapital Advisors achieve the sale of this premium office asset,” Mr Sinn said.

“The sale of this property has been a very successful outcome for our client and another positive sign of the strength of the Australian real estate market.”

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