About Crosby
Crosby is a senior associate in the firm's banking and finance practice in Sydney.
He advises borrowers, non-bank lenders, private equity funds, real estate investment groups, and corporations on a diverse range of finance matters.
Crosby joined the firm and was admitted to practice in New South Wales in 2018. He holds a Bachelor of Laws (Hons) and a Bachelor of Science from Victoria University of Wellington.
Practice focus
Crosby’s practice focuses on:
- property, development and general corporate debt financings, including senior and mezzanine financings and syndicated facilities
- structuring property investments and joint ventures
- general commercial and corporate transactions, including negotiating and documenting joint ventures and shareholder arrangements, and
- restructuring and work outs
Experience
Crosby has acted in a range of matters, including:
Corporate and acquisition finance
- Charter Hall: in relation to the banking and finance aspects of its successful A$760 million off-market takeover of ASX-listed pub and hotel owner Hotel Property Investments.
- Private equity: various private equity funds in connection with the banking and finance aspects of M&A transactions.
- Pure Asset Management: in relation to a series of transactions in connection with corporate debt facilities with listed industrial growth companies and resources companies (as well as associated warrants).
- Accent Group Limited: in relation to:
- its senior debt corporate club financing, including negotiating common terms deeds and bilateral facilities; and
- the financing aspects of its long-term strategic relationship with Frasers Group, under which Accent will launch and operate Sports Direct in Australia and New Zealand.
- OneVentures: including in relation to its debt funding of Airbnb property management start-up, Hometime and its venture capital investment in digital debt collection agency, InDebted (as well as associated warrants).
Property finance and project finance
- Consortium comprising Charter Hall Long WALE REIT and Hostplus: in relation to its $1.68 billion buyout proposal of one of Australia’s biggest freehold pub property owners, ALE Property Group.
- Partnership comprising Charter Hall and Victorian Funds Management Corporation (VFMC): in relation to:
- the financing for a $450 million development at King William Street, Adelaide, and
- the acquisition and construction financing for its development in Richmond, Victoria.
- Stamford Capital Funds Management: including in relation to:
- various joint ventures and property financing transactions;
- the establishment and structuring of its third and fourth Core Partners Funds, which target debt and equity real estate investments, including key fund and investor structuring documentation for CPF4; and
- the corporate structuring and financing for Stamford Capital and Citius Group’s A$180 million acquisition of a 58.9-hectare industrial and logistics development site at 725 Boundary Road, Truganina, Victoria.
- Gurner™ and Qualitas in relation to the acquisition of Jam Factory a prominent site on Melbourne’s Chapel Street.
- Gleneagle in relation to its acquisition and development of ‘Parkview on Cornwall’ a prominent development site in Auckland, New Zealand.
- A private client in connection with a senior and mezzanine development financing for the construction of an aged care facility in Sydney.
- AsheMorgan: including in relation to:
- the refinancing and development of its District Docklands precinct in Docklands, Melbourne; and
- a series of transactions in the property sector including in respect of the joint venture equity arrangements and financing arrangements required for the acquisition of The Complex in Brisbane, the acquisition of Crossroads Complex in Sydney and the Darlinghurst Collection in Oxford Street.
- Merricks Capital: in relation to various investment and construction facilities for a property developer for projects located in Elsternwick, Carnegie and Bentleigh, Victoria.
- Numerous non-bank lenders in connection with secured property and project financings.
Restructuring
- LawFinance: a series of transactions including various refinancings, assistance with its $17.2 million placement and $55 million debt to equity conversion and the restructure of existing syndicated facility arrangements as well as advising in relation to complex associated intercreditor arrangements involving cross-border elements including agreeing various multi-party implementation deeds.
- Various non-bank lenders in relation to distressed borrowers, including advice relating to receivership scenarios.
