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.
, led by partners Victoria Holthouse and Penny Nikoloudis, advised the Grosvenor Group, while King & Wood Mallesons advised Goldman Sachs.
A new industrial property investment partnership has been forged through work undertaken by a circle of top tier Australian law firms.