Arnold Bloch Leibler has advised Nikos Property Group on its acquisition of a 50% stake in Melbourne’s iconic Northland Shopping Centre, from a fund managed by GPT Group. As reported in the AFR, this deal is Nikos Property Group’s largest single property deal yet.
The investment solidifies Nikos Property Group’s commitment to the retail property sector and strengthens its strategic partnership with Northland Shopping Centre manager and co-owner, Vicinity Centres. Northland Shopping Centre is a strong regional shopping centre in Victoria’s north with opportunity for more growth as Melbourne’s population continues to surge.
ABL property and development partner Gia Cari led the deal team, along with senior associate Grace Cho, and lawyers Paris Hazell, Dylan Feltham and Gabriel Bar-Ness.
Gia congratulated the Nikos Property Group team, saying “The Northland Shopping Centre is a premier asset, and this transaction underscores the continued appeal of high-quality retail investments. The deal required navigating a complex retail landscape, and we are delighted to have helped our client achieve this successful outcome."
