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

The deal is worth approximately AU$120.4 million, and settlement is expected in October. KKR will own 75 percent 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.