DLA Piper lawyers have advised global asset management giant Aviva Investors (Aviva) on the creation of their new wholesale trust, the Australian Value Enhanced Logistics Trust, and the Trust’s acquisition of three industrial properties in NSW from Mirvac for AU$65.3 million, with finance from ANZ Bank.
The trust forms part of Aviva’s expansion of its premium logistics business in line with its broader plan to expand its entire property business in Australia.
Aviva is targeting further logistics properties, worth between AU$20 million and AU$50 million, to grow the fund.
The DLA Piper team was led by real estate partner, Tom Cantwell, assisted by senior associate Pablo Fernandez, with local and international tax advice from Jock McCormack and finance advice from Hugo Thistlewood.
“We’re delighted to support Aviva Investors in their ongoing expansion activities in the Asia Pacific region. The Australian and wider Asia Pacific real estate markets remain an attractive proposition for international investors,” Tom Cantwell said.
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