Asia's largest REIT has made the first acquisition by a Hong Kong-based REIT in Australia
Asia’s largest real estate investment trust (REIT) has made a major acquisition in Sydney with the help of leading firms.
Baker McKenzie and Greenwoods and Herbert Smith Freehills have advised Link REIT on its $683m acquisition of 100 Market Street from Blackstone Group. The deal for the 10-storey A-grade building in Sydney is the REIT’s first acquisition outside of Hong Kong and mainland China.
Baker McKenzie was the Hong Kong regulatory counsel for Link REIT. Greenwoods and HSF advised Link REIT on all tax aspects of the transactions, while HSF also fielded partners to act on the deal.
Baker McKenzie said that it fielded a “top advisory team” for the deal. It included Jeremy Ong, head of Baker McKenzie's Asia-Pacific REIT practice, and associates Jacquelynne Baey and Cheryl Wang.
Ong said that in addition to being Link REIT’s first acquisition outside of Hong Kong and mainland China, the deal is also the first acquisition by a Hong Kong-based REIT in Australia.
Greenwoods and HSF said that its team included director Sue Ann Khoo and managing director Manuel Makas. HSF partners Michael Back and Philip Podzebenko also advised on the deal.
