Gilbert + Tobin’s Real Assets team has acted for Assembly Funds Management on the establishment of its retail platform with PGIM Real Estate and seed acquisition of Ed.Square Town Centre in south-west Sydney for $248 million.
Assembly is a private real estate investment platform backed by the Lowy Family Group, Alceon, and former Westfield senior executive Michael Gutman. The platform manages around $1 billion in real estate assets across its funds and investments.
G+T advised Assembly on the deal, bringing deep real assets expertise to a transaction that reflects continued investor focus on well-located retail assets with strong daily-needs, entertainment and transport-linked fundamentals.
Ben Cosentino, Real Assets Co-Lead at G+T said:
Retail assets with strong fundamentals are firmly in focus. Ed.Square Town Centre has a good mix of convenience, entertainment and growth catchment, and Assembly and PGIM have moved decisively together on another high-quality opportunity.
The G+T team was led by Partner and Real Assets Co-Lead Ben Cosentino, with support from lawyers Morgan Foulsham and Hugo Zicat.
