Partner Matthew Stutsel led the team advising Atlantic, which opened the fund with an initial sole investment in a property in Kensington, Sydney.

Stutsel said the investment is indicative of foreign capital looking to Australia for its open regulatory system, comparatively stable markets, and high risk-adjusted financial returns. He said, however, tha the cross-border aspects of the deal provided the biggest hurdles.

"Trying to make Australian law issues work for German law outcomes added to the challenge", Stutsel said.

Funds solicitor Katherine Bennett and property partner Greg Hing assisted Stutsel with the deal, which marks a continued expansion in the property interests of the traditionally shipping-focused Rickmers Group, of which Atlantic is a subsidiary.