Freehills has advised K-REIT Asia on its acquisition of a 50 per cent interest in the Mirvac 8 Chifley Trust, a premium commercial building being developed in Sydney.
8 Chifley Square will feature 19,000 square metres of office space and, upon its completion which is expected in the third quarter of 2013, will be valued at $340 million.
Freehills advised on the Australian property and corporate funds aspects of the acquisition under the leadership of Sydney-based commercial real estate partner Murray Dearberg.
Sydney-based executive counsel Alicia Albury, consultant Peter Rowe and solicitor Katherine Bennett advised on the corporate funds management aspects of the transaction for K-REIT.
Mirvac was advised by Claytons Utz partner Gary Best and senior associate Allison Anthony.
Freehills worked with K-REIT's tax advisers Ernst & Young and its Singapore counsel, Wong Partnership, on the tax structuring and Singapore regulatory aspects of the transaction.
Dearberg said the deal involved the acquisition of shares, units and convertible notes and the negotiation of a complex development agreement.