The ABL team advising on the transaction was led by Property and Development partner, Tyrone McCarthy and Banking & Finance partner Ben Mahoney. Newly-appointed Corporate and M&A partner Rebecca Zwier assisted with the corporate due diligence.
Other team members included:
- Senior associate Brianna Youngson (Property & Development)
- Senior associate Genevieve Pope (Banking & Finance), and
- Lawyer Tamsen Kempster (Property & Development).
The portfolio includes shopping centres Lederer Corrimal, Lederer Cessnock, Imperial Centre in Gosford, Richmond Mall, Goulburn Marketplace and Lederer Miranda in Sydney.
IP Generation was founded three years ago by Chris Lock.
As reported in the Australian Financial Review, Chris acknowledged IP Generation’s intention to focus exclusively on retail property in the current market: “IP Generation believes that the broader market has developed an increasing awareness of the mispricing of certain retail assets, given the demonstrated resilience of non-discretionary assets throughout the pandemic, despite the largest retail yield spreads in recent history.”
Tyrone McCarthy commented on the transaction: “It is immensely pleasing to have helped our client IP Generation on such a significant acquisition, which is consistent with the company’s growth strategy.”
ABL was also involved in IP Generation’s earlier shopping centre acquisitions of Mildura Central and Corio Central from Vicinity Centres.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.