As reported in the Australian Financial Review, the loan is “one of the biggest private funding deals in recent times” and will fund the construction of Trennery’s $345 million mixed-use West End development in Melbourne, comprising 377 apartments, an Adina hotel and a retail/commercial space.
Led by Banking & Finance Partner Stephen Sharp, the ABL team advising Qualitas included Banking & Finance Senior Associate Stephanie Campbell and Lawyer Stephanie Watson (advising on transaction documents and conditions precedent), Property & Development Senior Associate Gia Cari and Law Graduate Emma MacPhee (undertaking property due diligence and pre-sales contract review) and Lawyer Michael Repse (conducting building contract review and drafting the builders’ tripartite deed).
Stephen Sharp commented on the deal: “Having acted for Qualitas in the initial establishment of this senior debt fund, it is exciting to continue that involvement with the Fund’s first major project and to be part of a client’s business which continues to maintain such a positive momentum.”
The West End development is due to be completed by the end of 2020. Find out more about the project here.
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