King & Wood Mallesons (KWM) has advised Mitsubishi Estate on the establishment of a value-added fund together with AsheMorgan which has acquired 60 Margaret Street (a large-scale mixed-use property in Sydney) from Mirvac and Blackstone for ~A$779 million. This is the first time a large-scale value-added fund has been established by a Japanese real estate company in Australia.
The KWM team was led by Funds Partner, Rob Kelly and Senior Associate, Torrin Nicolson with support from Special Counsel, Zealie Ainsworth, Senior Associate, Ned Sutton and Solicitor, Clare Magee and further specialist cross-practice support from Real Estate Partner Andrew Barrett and Senior Associates, Luke Udvardi and Lachlan O’Brien.
Rob commented: “We are grateful for the opportunity to support Mitsubishi Estate on its first Australian fund in joint venture with AsheMorgan and look forward to further supporting the team.”
