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Travelodge hotel deal sees record sale
International law firm Allens has advised on a transaction that is being dubbed Australia’s largest hotel real estate sale.
Emma Musgrave
Firm: Allens (a fund managed by the Mirvac Group and the NRMA).
Value: $620 million.
Area: M&A, real estate.
Key players: The Allens team comprised lawyers from multiple practice areas.
From the funds, super and wealth team: Sean Cole (partner), Joshua Gunn (associate), Matthew Wedgwood (overseas practitioner) and Wayne Kwok (law graduate).
From the M&A team: Kounny Rattley (partner), Lisa Gao (senior associate) and Hero Cook (law graduate).
From the property team: Tim Chislett (partner), Sam Fisher (senior associate), Jayne Williams (senior associate), Ilaria Corbett (senior associate), William Rennick (associate), Damian Morris (lawyer) and Gilad Harel (lawyer).
From the intellectual property team: Joel Barrett (partner) and Emma Gorrie (senior associate).
From banking and finance: Jo Folan (partner).
Deal significance: The sale, “which is reported to be the biggest hotel real estate transaction in Australian history”, includes 11 Travelodge hotels and associated assets, a statement from Allens confirmed.
Allens co-lead partner Mr Cole noted: “We’re pleased to have advised Mirvac and the NRMA on this successful competitive sale process which offered bidders the opportunity to bid on a fund-level and/or asset-level transaction structure, through which we were able to leverage Allens leading Funds, M&A and Real Estate cross-practice expertise.”
Co-lead partner Ms Rattley added: “We can congratulate Mirvac and the NRMA on this landmark deal. It represents a vote of confidence for the future of the sector and the economy.”
Meanwhile, co-lead partner Mr Chislett said: “We are thrilled to have worked on this market-defining deal alongside our valued clients, Mirvac and the NRMA. The transaction underscores the ongoing strength and appeal of the Australian real estate sector.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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