Global law firm Norton Rose Fulbright has advised Frasers Centrepoint Limited on a A$620 million real estate cross-border asset acquisition financing. Part of the proceeds of the financing were applied towards the acquisition of the initial portfolio properties to be injected into Frasers Logistics & Industrial Trust.

The financing was in connection with the initial public offering of Frasers Logistics & Industrial Trust on the Singapore Stock Exchange. The IPO raised S$903 million and is Singapore’s biggest new listing since 2013. It is also the first and largest REIT listed in Singapore with a pure-play Australian industrial and logistics portfolio.

The Australian real estate asset portfolio acquisition includes 51 industrial and logistics properties across major industrial markets such as Sydney, Melbourne, Brisbane, Adelaide and Perth. The properties were acquired by Frasers Centrepoint in 2014 as part of its purchase of Australand Property Group, one of Australia's leading diversified property groups.

Frasers Centrepoint, as Frasers Logistics & Industrial Trust’s Sponsor for the listing, is one of Singapore’s top property companies with more than S$23.5 billion total assets as at 31 March 2016.

Norton Rose Fulbright has previously advised Frasers Hospitality UK Holdings Limited, the owner of two boutique lifestyle brands in the UK, Malmaison and Hotel du Vin, on a loan facility to be used for refinancing and funding certain acquisition costs. The firm has also advised Frasers Property Holdings (Thailand) Co., Ltd. on the financing of their subscription of shares in Golden Land Property Development Public Company Limited, a public company listed on the Thailand Stock Exchange and engaged in real estate development and related services in Thailand.

The Norton Rose Fulbright team was led by Singapore partner Yu-En Ong, assisted by senior associates Janelene Chen, Lishi Fong and associate Kong Zhenning. Thai law advice was provided by Bangkok partner Tassanai Kiratisountorn, assisted by associates Tipapa Limvichai, Niracha Sanguankeo and Natpakal Rerknithi.