Herbert Smith Freehills Kramer (HSF Kramer) has advised Singaporean fund manager TrustCapital Advisors (TCA) on the $383 million acquisition of 750 Collins Street, Melbourne from ASX-listed GPT Group.
The 10-storey building located on the iconic Collins Street in Melbourne is over 41,000 square metres and is occupied by Monash University.
The transaction is part of TCA's long-term strategic investment portfolio in Australia, and a marker of growing investment confidence in the Melbourne office sector. HSF Kramer's Q3 APAC Sector Insights Report, published in November, reports fundamentals in the office sector have recently strengthened, marked by consecutive yield growth, an increase in vacancy rates, and stable leasing volumes.
The HSF Kramer team was led by real estate partnerDavid Sinn, with support from solicitor Samantha Hodgson.
David Sinn said, "The successful acquisition of 750 Collins Street by TrustCapital Advisors not only marks a significant milestone for our client but also signifies the growing confidence and momentum in the Australian office market. We are proud to have played a pivotal role in this significant deal."
This transaction further cements HSF Kramer's position as a leading legal advisor in the Australian real estate sector.Other recent examples include the firm advising:
- Keppel REIT on its acquisition of 75% of Sydney's Top Ryde City Shopping Centre
- Lendlease on build-to-rent apartment development in Melbourne's Docklands.