Baker McKenzie acted for Boston-based AEW Capital Management (AEW), one of the largest real estate investment managers in the world, in its acquisition of a commercial office building at 31 Queen Street, Melbourne. The purchase price was in excess of AUD 200 million.
AEW has USD 74.8 billion in assets under management globally and has recently grown its Australian portfolio through a series of major acquisitions, on some of which Baker McKenzie has acted.
The Baker McKenzie team was led by Corporate Real Estate partners Roy Melick in Sydney and Dora Stilianos in Melbourne. They were assisted, from a commercial real estate perspective, by Michael Diston, James Geremia and Rachel Brownlee. Special Counsel Leo Vellis, with the support of Brenton Worth, advised on deal structuring. Special Counsel Adam Jeffrey, with assistance from Elizabeth Athanassios advised on the financing aspects of the deal.
Commenting on the deal, Roy Melick said, "We were delighted to have acted for our client, AEW, on what was a significant and opportune commercial real estate acquisition in the very competitive Melbourne commercial property market."