Jurisdiction - Australia
News
Herbert Smith Freehills Advises On Abacus/Goldman Sachs Forum Investment.

22 June, 2015

 

Herbert Smith Freehills has advised Abacus Property Group on the establishment of a joint venture with The Goldman Sachs Group, Inc.

 

The venture has exchanged contracts to acquire 201 Pacific Highway, part of the Forum complex located at the St Leonards railway station in Sydney. The consideration for the acquisition is A$115 million, with settlement planned for August.

 

Herbert Smith Freehills partner, Justin O’Farrell, led the team, assisted by senior associate, Laura Walsh.

 

“Conditions in the Sydney commercial office market remain strong at all levels,” O’Farrell said. “The venture represents another successful partnership with a third party investor for Abacus, extending the Group’s successful third party capital model.”

 

The deal follows other recent ventures between Abacus and KKR for the World Trade Centre in Melbourne and the Oasis Shopping Centre on the Gold Coast. O’Farrell and Walsh also acted for Abacus in establishing those ventures.

 

Allens acted for Goldman Sachs in relation to the joint venture.

 

Conventus Law

Follow us on Twitter @conventuslaw

Comments are closed.