Ashurst has advised CIMB TrustCapital Advisors (CIMBTCA) on the financing facility for its acquisition of 150 Charlotte Street, Brisbane.
This follows on from Ashurst’s work with CIMBTCA, a Singapore-based Real Estate Investment Trust, on the purchases of 50 Marcus Street, Canberra and 850 Collins Street, Melbourne.
According to lead Ashurst partner on this matter, Jamie Ng: “The commercial property sector continues to show real strength, particularly for foreign investors looking to divert funds into assets with higher returns than those available outside Australia.
“The acquisition of the property in Brisbane continues CIMBTCA’s process of building a portfolio of commercial properties in Australia and is the fourth property the Trust has acquired since entering the market in early 2011,” Mr Ng said.
“This deal also shows that commercial banks are continuing to lend on property transactions, albeit subject to the quality of the transaction in question.”
The Ashurst team who worked on this matter: partner Jamie Ng, Kenneth Nguyen and Campbell Johnston.
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