Firms pave way for innovative property vehicle

Peter Godfrey
by |
A new industrial property investment partnership has been forged through work undertaken by a circle of top tier Australian law firms.

Herbert Smith Freehills has advised fund manager Propertylink on the establishment of the Australian Industrial Property Partnership.

The new investment vehicle, established with investments from Goldman Sachs and the UK-based Grosvenor Group, currently has a portfolio of seven industrial assets with a combined value of $100 million.

The group is planning to extend its portfolio to $350-$400 million.

The HSF team, led by partners Michael Back, Philip Podzebenko, Philip McMahon and Jinny Chaimungkalanont, advised Propertylink on structuring, acquisition of seed properties, financing and the co-investment arrangements with Goldman Sachs and Grosvenor.

Allens, led by partners Victoria Holthouse and Penny Nikoloudis, advised the Grosvenor Group, while King & Wood Mallesons advised Goldman Sachs.

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