Top firm wraps up deals batch with massive retail centres acquisition

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One of two top-tier firms that worked on a set of matters has finished the linked deals with this year’s largest large-format retail centres deal.

DLA Piper acted for Aventus Retail Property Fund, which bought two large-format retail centres in Sydney from LaSalle Funds Management for $436m. Herbert Smith Freehills (HSF) said it advised LaSalle, after recently confirming it acted in three finance deals connected to the sale.

Tim Mathers led DLA Piper’s team, which included lawyers from Brisbane, Sydney, and Perth. Mathers, who’s based in Brisbane and is the firm’s head of real estate, was assisted by partners Astrid Beemster, James Morse, and Peter Charteris; senior associates Robyn Rogers and Eddie Ahn; solicitors Adrian Zhang, Marco Ottaviano, Terie Liu, and Madison Orr; and graduates Zoe Robertson and Briar Blount.

HSF’s team was led by partner Kerry Heilbronn and consultant David Stitt in Brisbane. They were assisted by senior associate Anna Williams, who is based in Sydney.

Aventus bought Home Hub Castle Hill for $336m and Home Hub Marsden Park for $100m. The acquisition is significant for the Sydney metropolitan retail market and demonstrates continued confidence in large-format retailing, HSF said.

Heilbronn said the firm has had long-term involvement with the assets and is looking forward to continuing its relationship with LaSalle.

 “It is exciting to see continued movement in the large format retail sector. The location and size of the transactions reflect growing activity in this market,” he said.

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