subscribe to our newsletter sign up
Freehills leads on property deal

Freehills leads on property deal

Freehills has advised Growthpoint on its recent takeover bid for the Rabinov Property Trust, which increased Growthpoint's property portfolio to 38 properties valued at $1.17 billion. According…

Freehills has advised Growthpoint on its recent takeover bid for the Rabinov Property Trust, which increased Growthpoint's property portfolio to 38 properties valued at $1.17 billion.

According to Freehills, Growthpoint Properties Australia's (GOZ) strategy is to grow its market capitalisation to $1 billion and its assets to around $2 billion. Over the last two years, GOZ has expanded its portfolio by 15 properties worth $466 million.

Freehills partner Michael Ziegelaar said there have been very few managed investment scheme takeovers recently.

"The peculiarities of the trust structure add an extra layer of complexity to a takeover. Here, a number of trust-related issues, including changes of trustees and custodians, licensing issues, as well as changes to banking syndicate arrangements, related party transactions and property transfers made this a complex acquisition," he said.

The Freehills team was led by partners Michael Ziegelaar, Andrew Rich, David Sinn and Andrew Booth.

Growthpoint is being advised by Freehills, Investec and BDO.

Promoted content
Recommended by Spike Native Network