HWL Ebsworth has acted on the sell-side for one of the three vendors in the sale of its stake in the AMP Capital Retail Trust (ACRT) in a $2.2 billion sale to Australian superfunds, UniSuper and Cbus Property with an AMP co-investment.
ACRT holds 80% of the Pacific Fair shopping centre on the Gold Coast and 50% of the Macquarie Centre in Sydney. The sale is the largest direct retail property transaction completed in Australia and one of the largest global retail transactions in recent years. The yield of the Pacific Fair asset is expected to be circa 4.75%, while the Macquarie Centre asset is around 4.5%.
The HWL Ebsworth corporate and commercial team was led by Partner James Lonie and Partner Natalya Hards.
Note to Editors:
HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.
The firm comprises 1,531 staff including 267 Partners, 904 other legal staff and 360 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.
HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.
HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.
For further information, please contact:
Russell Mailler, National Marketing Manager (03) 8644 3569 or rmailler@hwle.com.au