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SC Capital acquires A-grade office building
Squire Patton Boggs has advised SC Capital Partners on its acquisition of 2 Wentworth Street, Parramatta.
Emma Musgrave
Firms: Squire Patton Boggs (SC Capital Partners); Makinson d’Apice (Centuria)
Value: $105.3 million.
Area: M&A
Key players: Squire Patton Boggs partner Rahul Parrab advised SCORE+ on the acquisition, with support by Greg de Mesquita, senior associate, and associates Kevin Lee and Shaista Azam.
SPB finance partner Hai-Dang Nguyen and senior associate Jessica Lucich advised SCORE+ on the incoming financing provided by UOB.
Deal significance: According to a statement supplied by SPB: “The successful acquisition of the A-grade office building is consistent with the SCORE+ Fund strategy to secure quality projects in strong growth locations”.
“Parramatta, which benefits from continued strong government and private investment, represents one of the most attractive office markets in Australia with strong rental growth underpinned by low office vacancy.
“The asset is 100 per cent leased with a strong government-based tenancy, and reflects a stable, income-producing asset with strong leasing covenants,” the statement said.
Lead partner Mr Parrab added: “We were delighted to again be working with SC Capital, which has a clear vision and confidence in the Australian property market, including Greater Parramatta. We are noticing increasing international interest in the area as the government’s plans for Western Sydney gain momentum.”
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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