King & Wood Mallesons (KWM) has advised Investec Australia Property Fund on the A$160m acquisition of the units of two trusts, which together hold two Sydney office properties.
The two properties, which are located in North Ryde and Frenches Forest, were previously owned by Blackstone and comprise approximately 27,400sqm of office and 475sqm of retail space combined. Both properties offer a weighted annual lease expiry of at least 4.1years.
Commenting on the deal, Susan said this strategic acquisition provides secure medium-term income for the fund, as well as benefiting from rezoning initiatives and surrounding infrastructure developments.
"We are excited to be working with our new client Investec Australia Property Fund as they focus more actively on investment opportunities in established metropolitan markets."