K&L Gates Advises Real I.S. AG on Adelaide Real Estate Acquisition
Sydney – Global law firm K&L Gates has advised Real I.S. AG on its AUD85 million acquisition of an Adelaide office property, which forms the basis of a broader strategy for investment in Australian real estate.
The Real I.S. Group is one of Germany's leading providers of property investments for private and institutional investors. The Group has property worth more than €7 billion under management in 11 countries across the globe and is represented in six locations in Europe and Australia. Real I.S. has been active in Australia for 14 years.
The five-star NABERS-rated building on Waymouth Street, in the heart of Adelaide's central business district, is Real I.S. AG's first acquisition for a group of institutional investors who recently mandated Real I.S. AG to build up a diversified real estate portfolio in Australia. The portfolio is expected to reach a volume of AUD400 million and will focus on core office properties in major Australian cities, with the possibility of adding retail, hotel and logistics properties.
The K&L Gates team advising Real I.S. AG was led by real estate partner Samuel Brown, who was supported by special counsel Tracey Jordan, senior associate Karen Yuan and lawyer Eleni Brooks. Partner Richard Gray provided advice on debt financing connected with the acquisition, while partner Matthew Cridland advised on indirect tax matters. In addition, partner Adam Levine advised on FIRB (Foreign Investment Review Board) matters with support from senior associate Natasha Augustin.
"It has been a pleasure for our K&L Gates team to work with Real I.S. AG on a number of significant transactions involving Australian real estate assets over the past 24 months," said Brown. "This latest acquisition in Adelaide is of particular strategic importance for our client, and we congratulate Real I.S. AG on securing the critical first property from which to continue building a strong portfolio for their investors."
K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.