BlackRock and Centuria Property Funds Limited’s $440 Million Sale of Two Office buildings in the Sydney Suburb of Chatswood

Allens advised a private fund managed by global investment manager BlackRock and Centuria Property Funds Limited (Centuria) on the sale

The Zenith was purchased by Starwood Capital Group LLC in a joint venture with Arrow Capital Partners.

The sale is the largest amount ever paid in Australia for an office asset outside of the CBDs.

The Zenith is comprised of two 21-storey office towers and has a net lettable area of about 44,400 square metres and 785 parking spaces.

Allens advised on all aspects of the sale with a team including Victoria Holthouse (Picture), Matti Bechler (Senior Associate) and Tamar Ruiz (Real Estate), Marc Kemp (Partner) and Justine Gainsford (Funds) and Charles Ashton (Corporate).

Involved fees earner: Charles Ashton – Allens; Matti Bechler – Allens; Justine Gainsford – Allens; Victoria Holthouse – Allens; Marc Kemp – Allens;

Law Firms: Allens;

Clients: BlackRock; Centuria Property Funds Limited;

Author: Michael Patrini