The centre will house the first proton therapy unit in the Southern Hemisphere
MinterEllison has advised real estate developer Commercial & General on the $446m sale of its clinical and medical research facility, Australian Bragg Centre, to real estate investment trust company, Dexus.
Led by partner Wissam Abwi, the firm assisted with all aspects of the facility’s development, including advising on the structuring of the transaction by way of a securities sale.
The team also included partner Daniel Marks, senior associates Jeremy Chew and Claire Morrell, and associate Sonia Shantilal.
MinterElllison had previously acted for Commercial & General in structuring their initial funding arrangements for the project and in the initial establishment of the Healthcare Wholesale Property Fund, with the developer being one of the purchasing entities of the research centre.
The deal represents a milestone for Australia's cancer treatment capability, with the facility housing the only proton therapy unit in the Southern Hemisphere. The research centre will be based in Adelaide and is due for completion in August 2023.
“This complex, unique development project required a tailored approach to cater for high-tech healthcare equipment and a range of stakeholder relationships, including with federal and state governments,” said Abwi. “In a period of time where healthcare's importance has been highlighted across the globe, we are pleased to have contributed to the advancement of Australia's local healthcare capability.”