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Investment groups in Singapore and Australia acquire Figtree Grove shopping centre
National firm MinterEllison has acted for Singapore’s SPH REIT and Moelis Australia on its $206 million joint venture acquisition of 100 per cent interest in Figtree Grove Shopping Centre in NSW.
Jerome Doraisamy
Firm: MinterEllison (SPH REIT; Moelis Australia).
Value: $206 million.
Area: Corporate.
Key players: The Minters corporate team was led by partners David Inglis and Tony Dhar, special counsel John O’Connell and senior associate Kate Koidl.
They were supported by partners David McElhone and David Moore, special counsel Kathleen Ng and James Hamblin, senior associates Mellissa Lai and Benjamin Wu associates Sarah Soon and Ashlee Zileski, and lawyers Samantha Currie, Patrick McCabe and Daniel Fahey.
Deal significance: “We are pleased to have advised the joint venture on this strategic acquisition and support SPH REIT in connection with their maiden acquisition in Australia,” said Mr Inglis and Mr Dhar.
“The acquisition of Figtree Grove Shopping Centre delivers on the goal of SPH REIT to enhance their geographical diversification and provide stable and growing income.”
The acquisition was made through a newly established joint venture trust, Minters said in a statement, between SPH REIT and Moelis Australia Asset Management in the proportion of 85:15.
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.
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