McCullough Robertson advised on the transaction
LEPC9 bought the 3ha site, at Sydney’s upper north shore for $147.5 million and part funded the purchase price by way of a syndicated loan facility arranged by Deutsche Bank.
The site has concept plan approval to develop 400 residential apartments across eight towers. However, there is a proposal in place to modify the concept plan to increase the number of apartments to 496.
LEPC9 is a joint venture between Australian property fund Lotus Property Fund and Hong Kong-based fund managers Euro Properties, which have delivered multiple residential projects in Australia, North America and Hong Kong.
McCullough Robertson advised with a team including Environment Partner Patrick Holland (Picture), real estate Special Counsel Eva Vicic, finance Partner David Gilham and finance Special Counsel Katy Anderson.
Law Firms: McCullough Robertson;
Clients: LEPC9 Pty Ltd;