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Real estate experts advise Growthpoint on A$142 million sale of Victorian industrial property portfolio

20 December 2016 | Australia
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Herbert Smith Freehills has advised Growthpoint Properties Australia on the sale of an industry property portfolio for $142.2 million to Singapore-listed Mapletree Logistics Trust.

The portfolio consisted of four premium logistics assets all located in Victoria with high quality tenants including Woolworths and Automotive Holdings Group. The assets sold were:

  • 28 Bilston Drive, Barnarwartha;
  • 99-103 William Angliss Drive, Laverton North;
  • 213-215 Robinsons Road, Ravenhall; and
  • 365 Fitzgerald Road, Derrimut.

The Herbert Smith Freehills team was led by senior associate Carla Deluca and solicitor Jean Liu and supervised by partner David Sinn.

“We were delighted to help Growthpoint achieve the sale of these four premium industrial assets,” Mr Sinn said. “The sale of this portfolio has been a very successful outcome consistent with Growthpoint’s business strategy following its successful takeover of the GPT Metro Office Fund earlier this year, which we were fortunate enough to also assist on.”

Mapletree was advised by Squire Patton Boggs.

The deal is another example of Herbert Smith Freehills’ market-leading work in the real estate sector. Other recent examples include:

  • advising M&G Real Estate Asia PTE on the acquisition of Casey Central Shopping Centre in Melbourne’s south for A$220 million;
  • advising Coles on the sale of Coburg North village in Melbourne’s inner north; and
  • advising Mirvac on securing Deloitte as its anchor tenant at Mirvac’s redevelopment of Olderfleet Place at 477 Collins Street Melbourne.

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