The investment will see Supalai acquire a 50% interest in the project and enter into a joint venture arrangement with Australian property developer Mirvac. Supalai will work with Mirvac to deliver the future stages of the project located in Victoria’s Clyde North.
Property Partner Dorian Henneron and senior associate Rob Deev advised on all aspects of the acquisition and joint venture arrangement.
Smiths Lane comprises 260-hectares and is expected to house more than 7,500 residents by completion in 2029.
Dorian commented on the firm’s involvement: “A big congratulations to Supalai on its new partnership with Mirvac. We’re thrilled to have worked with Supalai and its long term advisor, Gersh Investment Partners, on this transaction and we look forward to seeing the progress of the Smiths Lane development.”
