Ashurst advised Oxford Properties on first joint venture with AustralianSuper
19 February 2025
Global law firm Ashurst has advised Oxford Properties on their first joint venture with pension fund AustralianSuper (AS), one of the largest pension funds in Australia.
This transaction involves AS acquiring a 50% stake in Oxford's €840 million European industrial and logistics portfolio as well as in M7 Real Estate, a leading European investment and asset management business acquired by Oxford in 2021.
The Portfolio currently comprises c.730,000 sqm high-quality urban logistics and distribution warehouses across 76 assets. The properties are well located in 19 of the most strategic urban distribution hubs in the UK, Denmark, France, Germany, the Netherlands and Spain. With a diversified base of more than 200 tenants, the Portfolio is well-positioned to capitalise on increased occupier demand and rental growth throughout western Europe. The transaction is expected to complete at the end of Q1 2025, subject to customary regulatory approvals.
The Ashurst cross border team was led by David Jones, Head of Real Estate Capital Markets. He was supported by partners Francesca Downes and Chris Benbow, senior associates Lucy Pilgrim and Holly Dwyer and associate Daisy Wootten.
The wider team included corporate partners, Isabelle Lentz, Anne Reffay, counsel Paul Witte and senior associates Fabio Vittore, Scott Vanderwolf and James Powell. Partners Simon Swann and Alexandra Cloute assisted with tax advice whilst Oliver Cary led from the funds team. Partner Stephen Vaz and Hayden Dunnett supported on competition aspects. Finance advice was led by partners Sarah Watkinson and Sarah Winter with Brad Rice assisting with regulatory advice.
Partner David Jones commented, "We are delighted to have advised Oxford Properties on this transformative joint venture with AustralianSuper. This deal underscores our capability to deliver complex, cross-border transactions for leading institutional investors. The collaboration between Oxford and AustralianSuper is set to create a formidable presence in the European industrial and logistics market."
