DLA Piper advises KKR on Australian acquisition of Abacus Property Group

DLA Piper has advised global investment firm KKR on its venture with ASX-listed Abacus Property Group to purchase 70 per cent of the World Trade Centre in Northbank, Melbourne, from Asset 1.

The deal is worth approximately AUD120.4m (£68m) and settlement is expected in October. KKR will own 75 per cent of the venture on completion. This acquisition represents KKR’s first foray into the Australian real-estate market.

The DLA Piper team advising KKR was led by partner Les Koltai, with assistance from senior associates Astrid Beemster and Joel Cox.