Mallesons has acted for RREEF Real Estate, the real estate investment management business of Deutsche Bank’s Asset Management division, on its acquisition of the iconic ASX Building at 20 Bridge Street, Sydney, Australia for A$185 million. The acquisition was made by RREEF on behalf of an Asian institutional client.
Mallesons advised RREEF Real Estate on the Australian corporate, funds and real estate aspects of the acquisition. The Mallesons team was led by Partner, and regional Real Estate Sector Leader, Sue Kench, and Senior Associate Mark Bayliss.
“This transaction continues the strong flow of high profile cross-border investments into the Australian real estate sector by foreign investment managers and sponsors on which Mallesons has advised. We were delighted to be able to support RREEF Real Estate with the expansion of its high quality Australian portfolio, and to lend our market-leading expertise to RREEF Real Estate in the structuring and execution of inbound investment into Australian real estate” said Ms Kench.
Mallesons has advised a number of leading global and Asia focussed real estate managers and sponsors, including CLSA Capital Partners, LaSalle Investment Management, Pramerica Real Estate Investors and AEP Investment Management, on their recent inbound investments into the Australian real estate sector.
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