JWS advises investment company on 2 major acquisitions

Johnson Winter & Slattery has advised a real estate investment company on two Brisbane acquisitions.

Naomi Neilson • 15 July 2019 • Big Law

Source: jws.com.au/en/people/david-colenso

Firm: Johnson Winter & Slattery (Harmony Property Investments)

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Deal: JWS’ real estate team has advised Harmony Property Investments on the acquisition of two Brisbane properties.

Value: $35.83 million

Area: Real estate

Key players: Partner David Colenso led the JWS team, with assistance from associate Alanie Joseph and graduate Haerim Nam.

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Deal significance: Harmony Property Investments acquired an industrial site in Wacol for $10.6 million and an office building in Milton for $25.23 million in June 2019.

The investments company purchased the fully leased, 4,270sqm Milton building from Quintessential Equity following a multimillion-dollar upgrade, which included new end-of-trip facilities as well as improvements to its lifts, lobby and services.

According to JWS, Harmony Property Investments has more than $1 billion in assets and funds under management.

The Wacol industrial property was purchased from a local investor.

Mr Colenso said these transactions represented a positive outlook for Brisbane’s property market, adding: “The Brisbane market is attractive for clients like Harmony Property Investments, and these two acquisitions point to a vote of confidence in the Brisbane office and industrial sectors.”

naomi.neilson@momentummedia.com.au