Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Frasers Property Industrial on the establishment of a logistics joint venture with Morgan Stanley Real Estate Investing (MSREI), and the associated sale of a 50% interest in eight industrial and logistics properties. Following establishment, the portfolio will be valued at approximately A$600 million.
Frasers Property Industrial, a leading Australian property developer, holds significant property assets across Australia. The transaction will assist Frasers Property in establishing long-term, capital partnerships utilising its existing asset base.
Jointly led by corporate partner Robert Clarke and real estate partner David Ellenby, and supported by special counsel Lucy Carter and senior associate Nathan Ma, Corrs advised on all aspects of the transaction with support from a range of experts across the firm.
Commenting on the matter, Robert Clarke said: “We are pleased to have advised Frasers Property on this significant joint venture, marking its first industrial capital partnership in Australia.”
David Ellenby added: “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, said: “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.”