Australia’s capital transaction volume, specifically in the office sector of the real estate space, remains strong, the firm notes.
Lander & Rogers recently acted for two big property firms in four major real estate transactions in Victoria and Queensland, indicating a strong capital transaction volume particularly in the office sector.
According to the law firm, it advised the property firms Stockland and ARA Asset Management Pty Ltd.
“Capital transaction volumes in the office sector remain high with strong offshore interest combining with active domestic REIT and private funds sectors,” said John Wells, partner and Real Estate Sector team leader.
For ARA Asset Management Pty Ltd, the firm advised on the Singapore-based firm’s acquisition of an initial 50% interest in Melbourne’s Southgate Complex and on ancillary agreements to acquire the remaining 50% of the property.
Contracts exchanged on 5 August and the purchase is subject to Foreign Investment Review Board Approval.
“Our firm continues to invest in key regional markets such as Singapore, and we are very pleased to have been able to assist on these acquisitions as ARA and Suntec expand their Australian platforms,” Wells said.
Lander & Rogers also advised ARA on its acquisition of Brisbane's 25-level HSBC Tower at 300 Queen St for a value of $188M in a deal closed 30 June 2016.
Meanwhile, the firm advised Stockland on its acquisition of the 2.2 hectare Satellite Corporate Centre in Mulgrave for a value of $87.6M.
It also advised Stockland on its sale of the Garden Square commercial office park at Mount Gravatt in Brisbane for $45.25M.
“Our partnership with Stockland spans many years and we are proud to continue to support the implementation of Stockland's capital transaction and leasing strategies across Australia,” said Wells.
