HDY advises Challenger on $115 million property sale of Forum Cisco
1 July 2015
HDY advised Challenger on the sale of its office tower at 201 Pacific Highway, St Leonards for $115 million to Abacus Property Group and Goldman Sachs.
The A grade building is located at the foot of the St Leonards railway station and forms part of the Forum Cisco mixed use development. Challenger remains the owner of the adjoining tower at 203 Pacific Highway.
Lead HDY partner Andrew Steele said "One of the interesting aspects of this transaction was advancing the best interests of Challenger, as the seller, whilst at the same time acknowledging the ongoing relationship between the seller and buyer as continuing owners in the wider Forum development."
The HDY team was led by property partner Andrew Steele and included property senior associate Penny Dixon and property lawyers Liz Boden, James Hill and Alastair Stephens. Tax advice was provided by partner Greg Reinhardt and Special Counsel Seema Mishra.
Abacus Property Group and Goldman Sachs were advised by HWL Ebsworth.
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