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Spotlight: Asset funding, purchase & management

Corporate
Ganellen company logo.

Established in 1998, Ganellen is an Australian company with strong expertise in building design, consulting and construction, and which recently pivoted to focus on commercial asset and property management.

In 2021, Ganellen launched its first closed-end wholesale property investment fund.

With its sustainable growth mindset, Ganellen actively seeks opportunities to expand its asset and property management business while simultaneously exploring adjacencies and vertical integrations to drive value for its clients, people and the community.

In 2021, the company expanded its property development model, launching its first wholesale fund through which to purchase, and subsequently manage, Brisbane-based neighbourhood shopping centre Kallangur Fair, which it acquired from a Singapore-based private investor.

Executing the deal

The 4,703m2 Kallangur Fair shopping centre is anchored by Woolworths supermarket and tenanted by more than 10 speciality retailers, making it an attractive opportunity for domestic and international wholesale investors.

Purchased by Ganellen for $22.45 million, the asset is the first the company has acquired through its wholesale fund structure, which was specifically established to invest in the property.

Funding for the acquisition was split between a group of wholesale investors and commercial bank lending, leveraging the abundance of debt funding available in the market.

Realising value

The acquisition enables Ganellen to extend its investment platform's portfolio beyond Sydney, Canberra and Auckland to Brisbane, while vertically integrating its asset management and property management offering to unlock greater value for fund investors and the company.

Deal team

Working closely with independent international advisory and investment group Emerge Capital, Lander & Rogers' corporate partner Deanna Constable, property partner Rachel Hill and special counsel Eddy Goldsmith led buy-side advice including legal property due diligence, fund structuring, property and fund management agreements, review of investor eligibility, debt-side documentation and more.

For information about how Lander & Rogers can assist you and your organisation with complex corporate transactions including mergers & acquisitions, fund development, joint ventures, financings and restructures, please get in touch.

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