DLA Piper has advised Starhill Global Real Estate Investment Trust on their AU$288 million acquisition of the Myer Centre in Adelaide from ASX-listed Novion Property Group. 

Located in the heart of the CBD and anchored by a newly refurbished Myer store, the Centre is Adelaide's largest shopping centre comprising over 60,000 square metres of retail space and 10,000 square metres of offices. The transaction is the largest retail property deal in Australia year-to-date  and the second largest retail transaction ever for South Australia.

The deal is our first for Starhill Global REIT, a Singaporean-listed REIT with a portfolio (of mainly retail assets) spanning Singapore, Australia, Malaysia, China and Japan.

The DLA Piper team was led by Australian head of Real Estate Les Koltai and Melbourne Real Estate Partner Jane Baddeley, and included special counsels Lisa Hornsby and Peter Faludi, senior associates Eddie Ahn and Mahoney Smith, solicitors Laura Glover and Jane Xu, graduate Patrick McGlynn and law clerk Loan Ong.