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Queen Victoria Building acquired
Link REIT has purchased Queen Victoria Building, The Strand Arcade and The Galeries in an acquisition worth over half a billion dollars.
Jerome Doraisamy
Firm: Herbert Smith Freehills (Link REIT).
Value: $532.8 million.
Area: M&A, real estate.
Key players: The cross-border and cross-practice HSF team was led by partners Michael Back, Philip Podzebenko and Tommy Tong, who were supported by executive counsel Leone Costigan, senior associates James Peterson and Matt Li and solicitors Brandon Barrio, Matt Dulaney and Cara Chan.
Deal significance: Mr Back said: “Congratulations to Link on its acquisition of 50 per cent interest in three iconic Australian retail centres. We greatly appreciated the opportunity to work with the Link in-house legal and commercial teams and to bring to the deal the expertise and experience of our Australian and Hong Kong real estate and corporate M&A teams within an extremely tight timetable.”
Link REIT chief legal officer Kenneth Wong added: “Thanks to the professional and round-the-clock effort of this multi-jurisdiction team, we have been able to overcome enormous challenges to enter into this transaction within a very demanding timeframe.
“Indeed, we have struck a strong partnership with Herbert Smith Freehills since we first entered the Australian market by acquiring 100 Market Street.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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