Transaction follows completion of first phase in 2017
Herbert Smith Freehills (HSF) announced that its infrastructure team has advised the New South Wales Department of Family and Community Services (FACS) on the successful completion of four transactions that will comprise the second phase of the $1.1 billion Social and Affordable Housing Fund (SAHF).
This follows the completion of the first phase of SAHF in March 2017, on which HSF also advised.
The second phase establishes service agreements that provide access to an additional 1,200 social and affordable dwellings, which will complement the 2,200 dwellings provided under the first phase.
Nicholas Carney, partner at HSF, led a cross-practice team, with support from partner Erin Wakelin and executive counsel Amelia Fleming. They were assisted by senior associates Alanna Lofthouse, Kimberly Lean, Laura Ferraro, solicitors Stephanie Purcell, Lan Wei, Clare Brennan, Arnica Mullins, graduate Max Turner, and paralegal Cecilia Ngu.
“It has been a privilege to continue advising the NSW government as it continues to deliver social and affordable housing across the state,” said Carney. “We are incredibly proud of completing complex transactions with four selected service providers in a short space of time to bring SAHF phase 2 to life. We demonstrated that we are market leaders in the social and affordable housing space by providing expert advice on unique policy and commercial problems, as well as managing multiple streams of documents, negotiations and contract completions.”
Lofthouse said that one of the firm’s priorities was to facilitate cooperation and partnerships between the service providers and the government. “To achieve this cooperation we worked closely with FACS and NSW Treasury to design and coordinate a collaborative, transparent and efficient procurement process. We are thrilled to have partnered with the NSW government for a second time on the SAHF program and look forward to working closely with the NSW government in the future.”
