Allens advises Charter Hall on Macquarie real estate management acquisition
12 February 2010
Allens Arthur Robinson (Allens) is advising Charter Hall Group (Charter Hall), an Australian property funds management and development company, on its agreed A$108 million acquisition of the majority of Macquarie Group Limited's core real estate management platform.
Charter Hall will gain the management rights to two listed and three unlisted funds, and will also acquire investment stakes in three of those funds for A$189 million.
The transaction, which is being financed by a A$220 million fully underwritten placement and entitlement offer and an additional placement of A$85 million to Macquarie, will see Charter Hall become one of the largest specialist real estate fund managers and property owners in Australia.
Lead Allens Partner Stuart McCulloch, with Partners Anna Lenahan and Tom Story, brought a team together from the firm's Corporate, Funds Management, Banking and Finance, and Employment practice groups.
Advising on both the acquisition and the equity raising – and the legal due diligence for Charter Hall in Australia – the transaction marks a close working relationship between Charter Hall and Allens that began in 2005 for Charter Hall's Initial Public Offering.
'Allens has worked with Charter Hall on all major corporate and fund transactions since then and has developed a solid understanding of its businesses and operations', said Mr McCulloch.
'We were very pleased to be able to continue to support Charter Hall on this complex, strategic deal and help put Charter Hall on its growth path to becoming a leader in its field.'
Ends
| Client | Charter Hall Group |
| Allens legal team | Corporate: Stuart McCulloch (Partner – Sydney), Tom Story (Partner – Sydney), Bob Speed (Senior Associate – Sydney), Tim Cardiff (Lawyer – Sydney), Sandy Cameron (Lawyer – Sydney), Lisa Bau (Lawyer – Sydney), Kirsty Moore (Lawyer – Sydney), Chris Dalton (Lawyer – Sydney) and Tom Payten (Lawyer – Sydney) Funds management: Anna Lenahan (Partner – Sydney), Derek Heath (Consultant – Sydney), Marc Kemp (Senior Associate – Sydney), Penny Nikoloudis (Senior Associate – Sydney) and Cellia Cotan Cognard (Lawyer – Sydney) Banking & Finance: Mark Kidston (Partner – Sydney) and Alison Wong (Lawyer – Sydney) Employment: Tim Frost (Partner – Sydney) and Nick Fletcher (Senior Associate – Sydney) Stamp Duty: Tony Sheehan (Partner – Sydney) and Heran Kim (Senior Associate – Sydney) IP/IT: Andrew Wiseman (Partner – Sydney), Gavin Smith (Senior Overseas Practitioner - Sydney) and Rebecca Sadleir (Senior Associate – Sydney) |
For further information, please contact:
- Jane FoleyCorporate Communications Coordinator,
Melbourne
Ph: +61 3 9613 8503
Jane.Foley@aar.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.
