King & Wood Mallesons has advised Canada Pension Plan Investment Board (CPPIB) on its A$436m equity investment in AMP Capital Retail Trust (ACRT).
As an incoming equity investor, CPPIB will own a 37% interest in ACRT which is part owner of two of Australia’s premier shopping centres, a 50% stake in Macquarie Centre in Sydney and an 80% stake in Pacific Fair Shopping Centre on the Gold Coast.
Together AMP Capital managed funds, CPPIB and Harina Company Limited, a wholly-owned subsidiary of the Abu Dhabi Investment Authority, will fund two major developments of Macquarie Centre and Pacific Fair, totalling almost A$1 billion, creating two world class shopping and leisure destinations.
The King & Wood Mallesons team was led by M&A/Funds Partner John Sullivan and Real Estate Partner Stuart Dixon-Smith. They were supported by Special Counsel Anne Ellison from the Real Estate practice and Senior Associates Will McCosker and Tom Edwards and Solicitor Daiwei Shi from the M&A practice. Special Counsel Malcolm Brennan provided advice on FIRB related issues.
King & Wood Mallesons is pleased to have advised CPPIB on the expansion of its high quality Australian real estate portfolio following its recent investment in the landmark A$6 billion Barangaroo South Commercial Precinct, which King & Wood Mallesons also supported CPPIB on.