Arnold Bloch Leibler has advised Australian property investment and funds management company, Charter Hall, on the acquisition by a Charter Hall managed partnership of a 49% interest in a newly created property trust established by Telstra. It is intended that the unlisted trust will hold a $1.43b portfolio of 37 Telstra exchange properties located across Australia.
Led by the firm’s property & development partners Tyrone McCarthy and Gia Cari, the multi-disciplinary ABL team advising Charter Hall on the acquisition included Rob Deev and Emma MacPhee (Property), Genevieve Sexton (Banking & Finance), and Zoe Chung and Mark Macrae (Stamp Duty and FIRB).
Tyrone McCarthy commented: “We’re delighted to have advised on this significant transaction, which continues the strong relationship we have with Charter Hall. We look forward to supporting their team again in the future”.
This portfolio investment follows closely off the back of Charter Hall transacting to acquire 100% of the units in the trust owning the Telstra tenanted, A-Grade office building at 242 Exhibition Street in Melbourne for a total consideration of $830m. Arnold Bloch Leibler also acted for Charter Hall on the Exhibition Street deal, again led by Tyrone and Gia with the assistance of an extended ABL team (Jonathan Wenig, Genevieve Sexton, Damien Cuddihy, Mark Macrae and Emma MacPhee). As reported in the Australian Financial Review, Charter Hall’s Managing Director and Group CEO, David Harrison commented on the transaction: “We have a strong track record of creating institutional-quality investment opportunities that deliver long-term sustainable income for our investors”.
This article was originally seen on the ABL website and can be accessed here: https://www.abl.com.au/Insights-News/News/ABL-advises-Charter-Hall-on-1-43b-property-portfol