Login
$350m agreement reached to redevelop the Morphettville Racecourse
Global law firm Allens has advised joint venture developers on an agreement with the South Australian Jockey Club to redevelop a racecourse in Adelaide.
Jerome Doraisamy
Firm: Allens (Hostplus and Villawood Properties)
Area: Property
Value: $350 million
Key players: The Allens team was led by partner Michael Graves, who was supported by partners Lisa Zhou and Geoff Sanders, senior associate Sam Fisher, associates Will Rennick and Tina Tran, and lawyers Eric Sofianopoulos and Tim Tabalujan.
Deal significance: Mr Graves said: “We congratulate Hostplus and Villawood Properties on their successful partnership, which reflects an increasing trend of experienced developers partnering with private capital to secure and develop prized projects.
“Experts from our real estate development, finance and funds management practices worked side-by-side to secure the development rights and establish the investment structure of the project, all with a careful eye on the debt finance market, to ensure they were robust, developable and bankable.
“We look forward to continuing to work with the developers as the once-in-a-generation Morphettville Racecourse redevelopment takes shape.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly and HR Leader. He has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. In June 2024, he also assumed the editorship of HR Leader. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of the Minds Count Foundation.
You can email Jerome at:
