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G+T advises US company on first Oz acquisition

G+T advises US company on first Oz acquisition

Gilbert + Tobin has advised CommonWealth REIT on its acquisition of the MacarthurCook Industrial Property Fund, which has an enterprise value of approximately $90 million.Corporate advisory…

Gilbert + Tobin has advised CommonWealth REIT on its acquisition of the MacarthurCook Industrial Property Fund, which has an enterprise value of approximately $90 million.

Corporate advisory partner Marko Komadina led the Gilbert + Tobin team, together with senior lawyer David Clee and tax partner Peter Feros.

The transaction was implemented via a trust scheme which was subject to a number of conditions, including CommonWealth REIT entering into an agreement with MacarthurCook Fund Management Limited, the responsible entity of the MacarthurCook Industrial Property Fund, in relation to the ongoing management arrangements for the fund.

Gilbert + Tobin negotiated and advised CommonWealth REIT in relation to those management arrangements and also advised on the income tax consequences of the transaction.

CommonWealth REIT, a US real estate investment trust listed on the New York Stock Exchange, owns $US6.6 billion of US office and industrial property assets. It is managed by Reit Management & Research LLC which manages over $US17 billion of property assets across office, industrial, hotel and seniors living sectors.

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