Real Estate

In this section

The globalisation of the real estate market is changing the face of the sector in Australia and providing both opportunity and increased competition for players in the industry.

An increase in foreign investment in the Australian real estate market, coinciding with a new strategy for domestic A-REITS, is altering the local landscape, as the level of demand for quality large-scale investment in Australia makes a strong comeback.

There are also significant structural changes occurring as entities such as superannuation funds and private equity firms enter the market, including domestic and overseas players. In this environment of renewed competition for quality assets, the ability to execute complex deals swiftly and successfully is essential.

How we can help

Successful transactions and project executions demand an innovative approach

Allens has a strong track record of advising on large-scale and innovative development projects, and has advised developers and public authorities on major integrated developments incorporating residential, retail, commercial and industrial projects, recreational facilities and other mixed-use developments.

Ensuring you are covered throughout the asset life cycle

We bring together a national team with end-to-end expertise across all legal issues relevant to the real estate sector, including acquisition, development, financing and sale of commercial, industrial, residential and retail properties.

Access to a network of specialists

The group's expertise is complemented by a range of other specialist areas, such as taxation, construction and infrastructure, OH&S, environment and planning, funds management and capital markets.

Experience

Morgan Stanley Real Estate Investing and Investa Property Group

Advised on the sale of three of their business platforms. This transaction represents one of the largest ever global property transactions.

GIC Real Estate and Frasers Property Australia

Advised Singapore’s GIC Real Estate and Frasers Property Australia on their $1 billion plus sale of a portfolio of 26 industrial centres to Singapore’s Ascendas by way of interdependent sales of property-owning trusts and direct real estate.

Aqualand

Advised on all aspects of a consortium-led bid to secure the rights to develop the $2 billion final stage of the 5.2 hectare Central Barangaroo site, the last site to be developed as part of the Barangaroo masterplan in Sydney's CBD.

Rest

Advised on the acquisition of a one-third stake in Sydney’s $2.7 billion Quay Quarter Tower redevelopment for approximately $900 million.

Unibail-Rodamco

Advised Unibail on its merger with Westfield - the largest Australian merger to create a global group with a portfolio value of over €62 billion.

Federation Centres

Advised on the merger of two listed property funds to create Australia’s leading fully diversified retail REIT, now known as Vicinity Centres. The merger has created one of Australia’s largest real estate investment trusts, with a market capitalisation of approximately $12 billion, and with over $22 billion in assets under management.

Project Pinnacle

With our real estate, banking and stamp duty teams, and working closely with Linklaters, advised on the acquisition by BlackRock’s Asia Property Fund IV and Centuria of the Zenith in North Sydney.

Bank of China

Advised on the $1.65 billion facility to finance China Investment Corporation’s acquisition of the Investa Office portfolio. This transaction is the largest direct property acquisition in Australian history.

The GPT Group

Advised in relation to facilities in excess of $3.2 billion (and associated hedging and transactional facilities), including bilateral working capital facilities, USPP and (unused) acquisition facilities to fund its (ultimately unsuccessful) off-market takeover offer for Commonwealth Property Office Fund, and the subsequent acquisition of certain assets from that fund by its Wholesale Office Fund.

Investa Properties

Advised on the disposal of Morgan Stanley's ownership of three commercial property businesses, which made up the Investa commercial property and funds management business. This was the largest ever single disposal of commercial property in the Australian market.

Goldman Sachs and Brookfield

Advised on the acquisition of Lloyd International's New Zealand property portfolio.

The GPT Group

Advised on the extension of the GPT Wholesale Office Fund, and the establishment and IPO of the GPT Metro Office Fund.