Allens Arthur Robinson has advised a Goodman Group-led consortium on its successful $1.4 billion acquisition of the ING Industrial Fund Ltd (IIF), completed in Sydney on 29 March 2011.
Goodman Group is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally. The consortium of investors comprised Goodman Group and three global pension/sovereign wealth funds.
The acquisition will contribute 61 quality industrial properties, predominantly located in Australia's key east coast markets, to Goodman Group's portfolio and will increase Goodman's assets under management to $17.5 billion.
Partner Stuart McCulloch led the transaction. He brought together a team spanning the firm's mergers and acquisitions and capital markets; banking and financial services; commercial litigation and dispute resolution; and real estate practice groups.
The Allens team was involved in all aspects of the transaction, including negotiation of the consortium arrangements, trust scheme and the $1.1 billion finance facility to refinance IIF's existing debt.
Mallesons Stephen Jacques, Henry Davis York, Torys LLP, Clayton Utz, Norton Gledhill and Minter Ellison also worked on the deal.