National portfolio sale

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Massons acted for Denison Funds Management Limited on its national portfolio sale to Propertylink. The $175 million portfolio sale comprised 13 commercial, industrial and shopping centre properties across four states of Australia.

Massons advised Denison on all aspects of the sale (including vendor due diligence, structuring of the sale and jurisdictional specific requirements such as vendor disclosures). Massons had acted on the leasing of Denison’s national portfolio, prior to being instructed on the sale.

Matthew Burrows, CEO of Denison, said: “This transaction was executed in just five months, from the time of Board approval to settlement. This is testament to the work of not only our team, but to the  tenacity and outstanding problem solving skills of the Massons team.”

In the news:

The Australian – “Denison Funds Management offloads fund assets to Propertylink”

AFR – “Propertylink and Goldman Sachs buy Denison portfolio”

Lawyers Weekly – “Multimillion-dollar property portfolio sold”