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Mitsubishi Estate gains another stake in a Sydney landmark project
Clayton Utz has advised Mitsubishi Estate on its 25 per cent stake acquisition in the One Sydney Harbour Residences Two project.
Emma Musgrave
Firm: Clayton Utz (Mitsubishi Estate).
Value: Undisclosed.
Area: M&A.
Key players: The team advising Mitsubishi Estate was led by partner Hiroyuki Kano with assistance from partners Kathy Santikos (banking), Lina Fischer (major projects), Carrie Rogers (real estate) and Claire Smith (environment and planning).
Also assisting were counsel Clayton Barrett, Tania Chahine and Kate Thomas, senior associates Lauren Smith, Lance Bode and Tanvir Ahmed, lawyer Shaun Chng and law clerk, Daisuke Takagi, who is a Japanese qualified lawyer.
Deal significance: Mitsubishi Estate is one of Japan’s largest property developers.
The company’s latest stake acquisition in the One Sydney Harbour Residences Two project follows another 25 stake acquisition in the One Sydney Harbour Residences One project, which Clayton Utz also advised on back in July 2020.
“We are very pleased to have helped our client Mitsubishi Estate to successfully secure another stake in One Sydney Harbour, one of the largest and most complicated residential apartment development projects ever undertaken in Australia,” said partner Mr Kano.
“The transaction demonstrates that, notwithstanding the current global economic conditions and the recent reform of the Australian foreign investment regulations which came into effect in January 2021, there continues to be strong appetite from Japanese investors for Australian assets, particularly high-value, prime projects."
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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