Property investor raises capital from an institutional placement and a securities purchase plan
Arena REIT’s recent $55m capital raising succeeded with the help of two leading firms.
Hall & Wilcox advised Arena REIT on the raising, while Baker McKenzie advised Morgan Stanley, the lead manager and underwriter of the transaction.
The property investor raised $50m from the fully underwritten institutional placement, as well as $5m the securities purchase plan.
Both law firms said that the raising will be uses to fund several acquisitions and maintain balance sheet capacity for future growth opportunities.
The Hall & Wilcox team was led by corporate partner John Hutchinson. He was assisted by senior associate Josh Fast and lawyer James Fisher.
Hutchinson said that Arena REIT has been a long-standing client of the firm, having been involved since the company’s IPO and ASX debut in 2013.
The Baker McKenzie team was headed by partner Craig Andrade and general associate Matthew De Cataldo, who both advised on Australian law aspects of the transaction. Partner Andrew Reilly and special counsel Paul Anderson advised on US law aspects of the raising.
