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Arnold Bloch Leibler has advised two property groups on their acquisition of a one-third interest in Melbourne’s historic Myer building.
Firm: Arnold Bloch Leibler (Charter Hall Group and Abacus Property Group).
Value: $270 million.
Area: M&A, property.
Key players: Arnold Bloch Leibler property and development partner Tyrone McCarthy led the team, with support offered by senior associate Brianna Youngson and lawyer Catherine Outridge.
Deal significance: Following settlement of this transaction Charter Hall and Abacus will be co-owners alongside existing manager and one-third co-owner Vicinity Centres.
“We are delighted to have advised Charter Hall and Abacus in securing ownership interests in one of Melbourne CBD’s most landmark buildings,” Arnold Bloch Leibler lead partner Mr McCarthy said.
Commenting on behalf of Abacus, managing director Steven Sewell said: “This transaction aligns with our strategic priority of acquiring commercial assets in select locations where we see amenity and infrastructure improvements that we believe will ultimately translate to strong tenant demand.”
Meanwhile, Avi Anger, commenting on behalf of Charter Hall, noted: “The Myer Bourke Street Mall property in Melbourne, which together with CLW’s existing investment in the David Jones Castlereagh Street store in Sydney, represent two of Australia’s most iconic CBD buildings.”
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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