King & Wood Mallesons has acted for Perron Investments on its acquisition of a 50% interest in three regional shopping centres including Centro Galleria in Perth, Centro The Glen in Melbourne and Centro Colonnades in Adelaide for A$690.4 million.
Under the deal, which was negotiated in the space of weeks, Centro and Perron Group have agreed to a co-ownership arrangement with Centro retaining ongoing property management, development and leasing services.
The King & Wood Mallesons team was led by partner and real estate investment specialist Simone Menz.
“We are pleased to have supported our client to get this significant deal over the line in such a tight timeframe. This acquisition will further strengthen Perron’s portfolio of real estate assets and the alliance with Centro will open up future development opportunities in each of the three high quality shopping centres.”
Perron Investments Group is a privately owned Perth-based Group of Companies whose main business activity is property investments. Other activities include automotive distribution listed and unlisted equities and land development. Its property portfolio consists of commercial offices buildings, retail shopping centres and industrial property in Western Australia, New South Wales and Victoria.
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