Baker McKenzie acted as Hong Kong regulatory counsel for Link REIT ("Link"), Asia's largest real estate investment trust, on its AUD 683 million acquisition of 100 Market Street, a 10-storey A grade office tower located in Sydney, from US private equity firm Blackstone Group.
Baker McKenzie fielded a top advisory team for the deal, which included Jeremy Ong, Head of Baker McKenzie's Asia-Pacific REIT Practice, and associates Jacquelynne Baey and Cheryl Wang.
Commenting on the deal, Jeremy Ong said: "We are proud to have advised Link on this significant transaction, being Link's first acquisition outside of Hong Kong and Mainland China, as well as the first acquisition by a Hong Kong REIT in Australia. We look forward to supporting Link in its growth plans and development as they continue to expand and diversify around the world."
Baker McKenzie's Asia-Pacific REIT Practice has been at the forefront of ground-breaking REIT transactions in Asia, including the recent IPO of China Merchants Commercial REIT in December 2019.
The group has been involved in almost all significant transactions to date involving Hong Kong-listed REITs, including their IPOs, follow-on acquisitions and disposals, equity and debt capital raisings, takeover defense, and licensing/regulatory matters. Hong Kong-based clients of the Practice include Link REIT, China Merchants Commercial REIT, Champion REIT, Yuexiu REIT, Spring REIT, Prosperity REIT, Fortune REIT, Hui Xian REIT and Regal REIT.