Herbert Smith Freehills has advised Austreo Property Ventures, a subsidiary of Goldman Sachs, on its acquisition of 157 Ann Street, in Brisbane for approximately $40 million.

The 13-level, 6650 square metre building situated between Edward Street and King George Square was purchased from the City of Brisbane Investment Corporation. Anton Capital, the Sydney based boutique real estate advisory group, represented Austreo Property Ventures on this transaction.

The Herbert Smith Freehills team was led by Partner Greg Hing, who was supported by Senior Associate Julie Jankowski, and solicitors David Berman and Thomas Lai.

“This transaction follows a growing trend we are seeing for state governments and councils selling their property assets,” said Hing. “We are seeing a strong appetite for these types of well performing assets and we are happy to have supported Austreo Property Ventures in securing this property.”

Connor O’Meara advised City of Brisbane Investment Corporation on this transaction.