As reported in the Financial Review, the deal represents the largest real estate transaction in Tasmania’s history.
Over the last seven years, the mixed-use project was developed by the Trawalla Group - the family office of Carol and Alan Schwartz - with Citta Property Group and Qualitas. The sale will include the Marriott-Group managed Tasman Hotel, which is due to open in late December. The office component is directly connected to Parliament house and is set to be leased to the Tasmanian state government until 2037.
Property & Development partner Gia Cari and law graduate Bridget Pardy acted on the deal.
The deal represents the largest real estate transaction in Tasmania’s history.
ABL has also had a long-standing involvement in the property aspects of the project with Property & Development partner Ken Gray advising on the original documentation of the Marriott-Group hotel management arrangement.
Gia Cari commented on the transaction: “We are very pleased to have advised the Trawalla Group on one of the state’s largest commercial property transactions and congratulate the team on delivering a premium and landmark project.”
