Freehills has advised Aviva Investors on another significant acquisition of Australian property.
Aviva Investors - the global asset management arm of global insurance giant Aviva plc - has agreed to take over as manager and authorised corporate director of the Henderson International Property Fund (HIP) from 2 August 2010.
HIP holds European and Asia-Pacific assets valued at ₤183 million ($323 million), including properties on Castlereagh Street and Sussex Street Sydney, and Perth's The Esplanade.
Freehills advised on the Australian corporate, funds and property aspects of the transaction, coordinating advice from its Brisbane, Sydney and Perth offices.
Brisbane-based projects partner Michael Back led the Freehills team, which included senior associates Julie Jankowski, Alex Spark and Marie Botsis.
Matthew Stutsel, a partner in Freehills' Sydney funds management practice, with solicitors Katherine Bennett and Susie Li, advised on the transaction's structural aspects.
According to Freehills, Aviva Investors is seeking to merge the HIP trust with the £223 million held in existing European and Asia-Pacific real estate funds.