DLA Piper lawyers have advised global asset management giant Aviva Investors (Aviva) on the acquisition of Australian properties worth approximately $200 million.
The transactions are part of Aviva’s strategic plans to amass US$10 billion worth of investment property across Asia Pacific by 2015. They included the completed acquisition from Mirvac of a 50% share in the major new Woolworths logistics centre at Hoxton Park, NSW for approximately $100 million; and the ongoing acquisition of a portfolio of four industrial properties located in NSW and Victoria for almost a further $100 million.
The acquisition of industrial properties will seed Aviva Australian Logistics Fund, an unlisted Sydney-based property fund.
The DLA Piper team was led by Joint Head of Real Estate for Asia Pacific, Tom Cantwell and included Senior Associate, Pablo Fernandez, both of whom are based in Melbourne.
“DLA Piper is delighted to be involved in Aviva Investors’ expansion into Asia Pacific and Australia,” says Cantwell. “We continue to provide advice on potential investments by leading international investment groups into Aviva’s property fund and on the expansion of the fund through further acquisitions.
“It’s pleasing to notice that the Australian and wider Asia Pacific real estate markets continue to emerge as a safe haven for international investors during these turbulent economic times.”
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