Lander & Rogers advises on VIC and QLD office sector transactions for Stockland and ARA
Lander & Rogers recently acted on a range of real estate transactions for Stockland and ARA Asset Management Pty Ltd.
We advised ARA Asset Management Pty Ltd on its acquisition of an initial 50% interest in the Southgate Complex, Melbourne 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. The firm also advised ARA on its acquisition of Brisbane's 25-level HSBC Tower at 300 Queen St for a value of $188M, which settled on 30 June 2016.
We advised Stockland on its acquisition of the 2.2 hectare Satellite Corporate Centre in Mulgrave for a value of $87.6M. The firm also advised Stockland on its sale of the Garden Square commercial office park at Mount Gravatt in Brisbane for $45.25M.
Lander & Rogers Real Estate Sector Team Leader, Partner John Wells, said, "Capital transaction volumes in the office sector remain high with strong offshore interest combining with active domestic REIT and private funds sectors. 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.
"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".