Clayton Utz, Allens on $1.8B Aussie Property Deal
Sovereign wealth fund China Investment Corp. is buying a commercial real estate portfolio from Morgan Stanley-controlled Investa Property Group.
August 04, 2015 at 10:25 PM
1 minute read
Clayton Utz is advising sovereign wealth fund China Investment Corp. on a $1.8 billion acquisition that is one of the largest-ever property deals in Australia.
CIC is buying a portfolio of nine office towers in Sydney and Melbourne from Investa Property Group, which is controlled by the real estate arm of Morgan Stanley. According to the Australian Financial Review, the deal is the largest direct real estate transaction in the country's history.
CIC has contracted with Investa's property management division, Investa Office, to handle operations at the buildings. No date was given for when the deal, which is subject to regulatory approval, would be completed.
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