Property giant buys Melbourne building with Baker McKenzie's help

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A real estate investment manager has scooped up a Melbourne office building with the help of Baker McKenzie.

The global law firm advised AEW Capital Management on its acquisition of a commercial office building at 31 Queen Street, Melbourne. The purchase price exceeded $200m, it said.

AEW is one of the largest property investors in the world, with US$74.8bn assets under management. It has been expanding its Australian portfolio and Baker McKenzie has acted in several of those acquisitions, the firm said.

Corporate real estate partners Roy Melick in Sydney and Dora Stilianos in Melbourne headed the deal team. Associate Michael Diston, law graduate James Geremia and conveyancing services manager Rachel Brownlee provided support on commercial real estate issues.

Deal structuring advice was provided by special counsel Leo Vellis, who was supported by associate Brenton Worth. Financing aspects were handled by special counsel Adam Jeffrey, with assistance from Elizabeth Athanassios.

Melick said that the deal was a “significant and opportune commercial real estate acquisition in the very competitive Melbourne commercial property market.”