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Swiss-headquartered foundation completes quasi-swap
Two firms advise on a $300 million transaction, which has seen a quasi-swap between two parties.
Emma Musgrave
Firms: Mills Oakley (AFIAA); Herbert Smith Freehills (M&G Real Estate Asia)
Value: $300 million
Area: M&A, finance, property
Key players: The legal team advising AFIAA was led by Mills Oakley property partner Pablo Fernandez, with assistance from special counsel Damiano Castelli, partner Tom Cantwell, associate Holly Cormie and law clerk Benjamin Kane.
Advice relating to the financing of these transactions was provided by Mills Oakley banking and finance partner Monique Stella, who was assisted by lawyer Isabella Barnes.
Deal significance: The Brisbane property, HQ South Tower in Fortitude Valley, sold for approximately $120 million, while the Melbourne property, 628 Bourke Street, sold for approximately $180 million.
Both transactions reached financial close this month, according to a statement by Mills Oakley.
Lead partner Pablo Fernandez said that these deals showcased Mills Oakley’s all-round strength in major real estate transactions, with several teams across jurisdictions working collaboratively.
“The deals were not without their challenges but a solid all-in effort allowed us to get the result, he said.
“We were delighted to assist with these transactions, which reaffirm AFIAA’s commitment to the Australian market.”
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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