King & Wood Mallesons has acted for RREEF Real Estate, the real estate investment management business of Deutsche Bank’s Asset Management division, on its acquisition of Pittwater Place Shopping Centre for A$56.6 million.
The acquisition was made by RREEF Real Estate on behalf of a German institutional client.
The King & Wood Mallesons team included Senior Associate, and real estate capital markets specialist, Mark Bayliss, and real estate Solicitors James Hough and Andrew Cork. The acquisition is the second on which the team has advised RREEF Real Estate, having also recently advised RREEF Real Estate on its acquisition of an institutional grade commercial office asset in Sydney for an Asian institutional client.
“We were delighted to be able to continue our support of RREEF Real Estate in the expansion of its high quality Australian portfolio, and to lend our market-leading expertise in the structuring and execution of inbound investment into Australian real estate. The investment is, amongst other things, testament to the continued confidence of real estate capital market participants in the Australian and broader Asian real estate markets, and the robust fundamentals and growth opportunities that underpin them” said Mr Bayliss.
King & Wood Mallesons has advised a number of leading global and Asia focussed real estate managers and sponsors, including AEP Investment Management, Ascendas, CLSA Capital Partners, LaSalle Investment Management and Pramerica Real Estate Investors on their recent inbound investments into the Australian real estate sector.
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