Lander & Rogers advises on financing of $670m acquisition

Lander & Rogers has advised JY Group, a leading commercial real estate investment firm, on the financing of its acquisition of a 50% interest in Westfield Marion for A$670 million. The transaction is one of the largest Australian retail property deals completed in recent years.

The acquisition marks a significant milestone in JY Group's continued expansion in the Australian retail property market, increasing the Group’s total assets under management to A$4.9 billion. The transaction also continues JY Group's partnership with Scentre Group, Australia’s largest shopping centre group, and follows JY Group’s recent acquisitions of interests in Warriewood Square, Westfield Whitford City and Bankstown Central.

Located in Adelaide's southern suburbs, Westfield Marion is Adelaide's largest and only super-regional shopping centre. It has a diversified tenant mix anchored by major national retailers including Myer, David Jones, Woolworths, Kmart, Target and Bunnings, together with a broad range of specialty retail, dining and entertainment offerings. The centre serves a substantial trade catchment and is recognised as one of Australia's leading retail assets.

Lander & Rogers advised JY Group on the financing arrangements for the acquisition, which was supported by a syndicate of leading Australian lenders. The transaction was led by Finance partner Adam Jeffrey, supported by senior associate Dominic Ho and lawyer Mariam Dib.

Adam Jeffrey commented:

"We are delighted to have again supported JY Group on the financing of this significant acquisition. The transaction reflects the continued investor demand for high-quality retail assets and represents another important milestone in JY Group's Australian growth strategy. We value our long-standing relationship with JY Group and look forward to supporting the Group on future opportunities."

This acquisition further cements JY Group’s position as a leading investor in the Australian retail property market and underscores its strategy of targeting dominant, high-quality assets with strong long-term fundamentals.