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Property is now Australia’s biggest industry, having surpassed mining, home ownership and financial services. The significance of the property industry to the Australian economy is set to increase in the coming years, especially as the economy continues to transition from the construction phase of many resource developments, and we face ongoing weakness in resource prices and investment activity. Funding for property acquisition and development is at the centre of the property industry and, as a result, a strong property finance team has to be a key lynch pin of any reputable full service Banking & Finance team.
Our national team of finance experts has experience in all facets of development and investment financing in the commercial property market, acting for both financiers and sponsors. We offer a breadth of knowledge across many property classes, including subdivisions, apartment towers, industrial precincts, shopping centres, commercial office buildings, multi-use developments, listed and unlisted property funds, hotels, resorts and other serviced accommodation.
The HWLE team recognises that in addition to being skilled finance practitioners, the team also needs to be market leaders in all the key elements of property transactions, namely property, planning, environmental, construction, duty and tax. We work closely with our colleagues in these related areas to ensure our clients receive specialist and timely advice. We also recognise the increased advent of technology in property transactions, ranging from electronic signatures through to e-conveyancing as part of the operation of our Titles Office.
Our team prides itself on its ability to structure property finance transactions often involving a complex set of regulatory and tax issues. This may involve documenting intercreditor arrangements between senior, mezzanine and equity participants, considering the application of laws regulating managed investment schemes, or advising on development agreements and financier step in and cure rights with government authorities or departments.
Experience
- Ship terminal development: Acting for a major Australian financial institution in respect of a senior debt structured finance facility for the development of the mixed use residential, marina and cruise ship terminal on surplus land adjacent to the Townsville Breakwater Casino – to be constructed in partnership with the State of Queensland, Tabcorp Limited, the Townsville Port Authority and Consolidated Properties Ltd with an end project value of $1 billion;
- South East Queensland residential apartment tower developments: Acting for the senior financer in respect of construction finance facilities for significant recent South East Queensland residential apartment tower developments including “Newstead Towers” Newstead, “Fish Lane” South Brisbane, “Melbourne Residences” South Brisbane, “Oxley + Stirling” South Brisbane, “La Vida” Newstead, “Canopy” Bardon, and “The Beach Apartments” Broadbeach;
- A major Australian trading bank: Acted in connection with the construction finance facility for the development of a mixed use project to be known as ‘The Wellington’ at East Brisbane comprising 127 apartments and 9 retail tenancies;
- Stamoulis Property Group: Acted in connection with finance facilities provided by a financier to fund its acquisition of 1 Collins Street, Melbourne;
- Future Estate Group: Acted in relation to development financing provided by a major Australian trading bank to fund the construction of Stage 2 of its Parc Vue residential apartment project;
- A major Australian trading bank: Acted in connection with development financing provided by it to fund the construction of the Lighthouse residential apartment project at Wyndam Harbour; and
- Golden Age Group: Acted in connection with senior and mezzanine financing for the construction of the “Essence” residential apartment project in NSW.