Corrs advises on Frasers Property partnership
Corrs Chambers Westgarth has successfully guided Frasers Property Industrial through a significant A$600 million venture with Morgan Stanley Real Estate Investing to establish a logistics joint venture and sell a 50% interest in eight properties
The deal is poised to enhance Frasers Property's long-term capital partnerships while leveraging its existing asset base in the industrial sector. Jointly led by corporate partner Robert Clarke and real estate partner David Ellenby, the Corrs team also included special counsel Lucy Carter and senior associate Nathan Ma, showcasing the firm’s comprehensive expertise across various aspects of the transaction.
Robert Clarke expressed the firm’s satisfaction by stating "We are pleased to have advised Frasers Property on this significant joint venture, marking its first industrial capital partnership in Australia." David Ellenby highlighted the strategic alignment of the deal by noting "The transaction aligns with Frasers Property’s strategy of enhancing returns while maintaining capital efficiency through long-term partnerships, and further strengthens Corrs’ reputation as a trusted legal adviser on complex, property-related transactions."
Frasers Property Industrial CEO, Reini Otter, emphasised the importance of the venture, asserting "This joint venture with MSREI marks an important milestone for Frasers Property Industrial in Australia. It supports our strategy to grow through capital-efficient partnerships while continuing to deliver high-quality industrial spaces for our customers. We’re grateful to Corrs for their trusted advice and support throughout the transaction"