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ABL advises on $402m shopping centre acquisition

Banking & Finance, Property & Development
shopping centre
Arnold Bloch Leibler has advised long-standing client, Haben Property Group and its joint venture partner, JY Group, in relation to the acquisition of Wollongong Central shopping centre for $402 million.

As reported by the Australian Financial Review, the transaction is another signal of increasing momentum within the retail real estate market.

Property & Development partner Jonathan Caplan and Banking & Finance partner Nathan Briner led the transaction with the assistance of senior associate Lisa Garson and lawyer Isabel Charny.

Jonathan Caplan commented on the acquisition: “Wollongong Central represents the largest transaction to date for Haben Property Group. In just over a decade Haben now has a portfolio of nine centres across the eastern states”.  

Nathan Briner added: “We are delighted to have advised Haben and JY Group on the acquisition of this quality regional shopping centre asset and we look forward to assisting on future strategic investments”. Senior debt for the acquisition was provided by two leading Australian commercial banks.

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