The partnership is expected to 'change the game' for property investors, developers, and owners
Herbert Smith Freehills (HSF) has advised IFM Investors on its proposed investment in Smart Urban Properties Australia (SUPA).
The global funds manager has entered into binding transaction documentation to invest $50m in SUPA. IFM Investors has $217bn in funds under management and brings a wealth of networks, relationships and specialist skill sets, which will be leveraged to support SUPA's growth strategy.
Horth said the partnership with IFM will allow SUPA to change the game for property investors, developers, and owners, improving the communities' lifestyles by developing smarter, safer, more sustainable urban properties.
"Over several months working with the IFM team, it has become clear that this opportunity is in the best long-term interests of the company. IFM's relationships and networks, our alignment on strategy and ambition and our shared values provide the ideal platform for us to deliver outstanding returns for all SUPA investors," Horth said.
"The embedded network space presents several highly attractive features, particularly for private capital investors, and SUPA is set for continued success with the support of IFM," HSF co-lead partner Adam Charles commented.
The company comprises three divisions:
- SUPA Energy provides energy infrastructure like embedded electricity networks, metering and solar panels to new and existing properties.
- SUPA Networks installs super-fast fibre-to-the-premise (FTTP).
- SUPA Tech delivers security, access controls and building services management, including intercoms, security systems and CCTV.
The HSF legal team, led by Charles and fellow partner Andrew Clyne working alongside senior associate Nick Lee, committed to guiding IFM Investors on its proposed investment in SUPA. The team leveraged the support of partners Peter Davis, Kwok Tang, and Michael Gonski; special counsel Amalia Stone; senior associates Paul Burton and Rommo Pandit; and solicitors Natasha Kandi and Sam Hannah.
SUPA is Australia's first unified converged services provider, bringing renewables, mobility, fibre and smart property technologies together to create smarter, safer, and more sustainable multi-occupancy properties.
