The transaction, the latest in a string of recent foreign investments into the Australian commercial real estate sector on which Mallesons has advised, will give Ascendas and Accor a stake in the Mirvac Wholesale Hotel Fund, Ascendas the management rights for the Fund, and Accor the hotel management. The Mallesons team was led by partner John Sullivan, who was supported by senior associates Mark Bayliss and Scott Phillips.
Mr Sullivan said “This was a really interesting transaction, involving multiple facets and complex regulatory overlay. There was also extensive coordination with multiple parties in different jurisdictions and a relatively tight transaction timetable. We were delighted to be able to support Ascendas and Accor with the expansion of their high quality portfolios, and to lend our market-leading expertise in inbound investment into the Australian commercial real estate sector."
Mallesons has been proud to support a number of leading global and Asia focussed real estate managers and sponsors on the inbound investments that made and moved the Australian real estate market in 2011, please see A big year for inbound Australian real estate.
For further information on Mallesons recent experience and market-leading expertise in investing in Australian real estate, please see Real Estate, Real Opportunities - Investing in Australian real estate.
Elle QuinnCommunications ManagerT +61 2 9296 3730
M +61 424 168 080