Partners Robert Clarke and David Ellenby jointly lead legal advisors in joint venture
Corrs Chambers Westgarth, an Australian independent law firm, has announced that it assisted property developer Frasers Property Industrial as it formed a logistics joint venture with Morgan Stanley Real Estate Investing (MSREI), with the resulting portfolio valued at about $600m.
Corrs also advised Frasers Property on the associated sale of a 50-percent interest in eight industrial and logistics properties, according to a news release from the firm. Corrs said the transaction will help Frasers Property, which has property assets across Australia, achieve long-term capital partnerships with its current asset base.
“This joint venture with MSREI marks an important milestone for Frasers Property Industrial in Australia,” said Reini Otter, Frasers Property CEO, in the news release. “It supports our strategy to grow through capital-efficient partnerships while continuing to deliver high-quality industrial spaces for our customers.”
Otter expressed gratitude to Corrs, which assisted Frasers Property with all aspects of the transaction, for its “trusted advice and support.”
The firm shared that Robert Clarke, corporate partner, and David Ellenby, real estate partner, jointly led the Corrs team handling the transaction.
Clarke – partner in charge of the firm’s Melbourne office – has advised financial sponsors and strategic investors on complex domestic and international corporate and investment matters for more than 25 years, according to his profile on the firm’s website.
Clarke belongs to the firm’s multidisciplinary team that offers legal services to private equity, venture capital, infrastructure, real estate, special situations, sovereign wealth, and pension fund clients, as well as other sponsor clients. His work covers mergers, acquisitions, divestments, carve-outs, work-outs, restructurings, joint ventures, co-investment transactions, and strategic governance advice.
“We are pleased to have advised Frasers Property on this significant joint venture, marking its first industrial capital partnership in Australia,” Clarke said in the firm’s news release.
Ellenby’s firm bio highlights extensive experience in a wide array of property and development transactions, including acquisitions, disposals, mixed-use developments, title structuring, complex industrial, commercial and retail leases, water rights, infrastructure projects, and ‘cradle to grave’ mixed-use developments.
“The transaction aligns with Frasers Property’s strategy of enhancing returns while maintaining capital efficiency through long-term partnerships, and further strengthens Corrs’ reputation as a trusted legal adviser on complex, property-related transactions,” Ellenby said in the news release.
The firm noted that Lucy Carter, special counsel, and Nathan Ma, senior associate, provided support in the transaction.
