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ABL advises Qualitas on $250m private funding deal

Banking & Finance, Property & Development
Close up construction crane next to bulding blue sky
Arnold Bloch Leibler’s Banking & Finance and Property & Development teams have advised property financier Qualitas on a $250 million senior debt facility for developer Trennery Property Group.

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.

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, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.

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