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Property Finance
We have an outstanding property finance practice, and have acted on some of the country's most significant transactions.
Our long relationship with the major financiers attests to our expertise, judgment, and dependability.
We work with our clients to identify and implement effective funding structures for real estate acquisitions, property developments, and construction projects.
Our track record includes many landmark acquisitions across various sectors including central city commercial real estate and strategic investments in forestry, agriculture and viticulture for large multi-national companies. We also advise on private land acquisitions for high-net-worth investors.
Our expert advice covers the full range of commercial real estate financing options, including loan facilities (senior and mezzanine), bridging finance, and workout solutions.
In addition, we advise on risk exposure and management. This includes mortgages, guarantees and indemnities, tripartite agreements, step-in arrangements, priority and security sharing documentation, performance bonds, and bank guarantees.
Work Highlights
Hyatt Hotel
We advised ASB on the development financing of the new $300 million Hyatt Hotel in Auckland’s Wynyard Quarter.
Wellington CBD offices
We acted for BNZ on its $120m syndicated development financing of prime Wellington CBD office premises by Newcrest Capital.
“Lakeside” planned community
We acted for The Massachusetts Mutual Life Insurance Company and its subsidiary Barings Australia Pty Ltd in their maiden large-scale ($130m) real estate financing investment in New Zealand - a large scale, master-planned community known as “Lakeside” being undertaken at Lake Waikare.
New Zealand Carbon Farming
We advised on raising debt funding from Rabobank and Bank of New Zealand (BNZ), through two new ringfenced structures, for NZCF’s acquisition of more land to establish forests for carbon sequestration.
Ormiston Rise
We acted on the financing for the purchase of Ormiston Rise, a 727-unit housing development in Auckland.
Healthcare Holdings
We advised Healthcare Holdings on its establishment of a new 3-year $175 million syndicated facility from ASB Bank and ANZ to fund the redevelopment of the MercyAscot Hospital.
KiwiBuild
We advised Westpac on its discussions with the Crown to agree a standardised Option Agreement and Direct Agreement used for KiwiBuild transactions.
We also have significant experience reviewing and negotiating Option Agreements and Direct Agreements with the Crown (acting both on the lender and borrower side).
In addition, we acted for ASB, Westpac and a large US-based non-bank lender (amongst others) on various Kiwibuild developments.
Pacific Property Fund Limited
We advised on its syndicated investment financing of 16 commercial properties with a syndicate of NZ and Chinese banks.
Invesco Real Estate Management
We advised on the $214 million purchase of the QBE Tower at 125 Queen St, Auckland and $181 million purchase of a 50% interest in the ANZ Centre on Albert St, Auckland.
Augusta Property Syndicate
We advised on the funding for $141 million purchase and development of Mercury Building in Newmarket, Auckland.
