Hall & Wilcox advises Arena REIT on $120 million capital raising and acquisition of early learning centre properties

Hall & Wilcox has advised Arena REIT on its recently announced $120 million capital raising and the portfolio acquisition of six early learning centre (ELC) properties. Arena REIT is an ASX200 listed property group that develops, owns and manages social infrastructure properties across Australia.

The equity raising involved a $120 million Institutional Placement (fully co-underwritten by Macquarie Capital and Jefferies) and a $20 million Securities Purchase Plan. The raise will be used to fund the acquisition of the ELC assets and potential development asset acquisitions and to accommodate pipeline growth.

The Hall & Wilcox team was led by Partners Natalie Bannister (property) and Vanessa Murphy (corporate), with support from Special Counsel Ella Simmons, Associates Caitlin Byrne and Georgia Macri, Lawyers Laurice Aziz and Briony Oddey and Consultant John Hutchinson.

Natalie Bannister, Hall & Wilcox’s Head of Property and National Commercial Practice Leader, said, ‘Hall & Wilcox is delighted to have assisted the Arena REIT team on another significant equity raising and acquisition of a portfolio of childcare assets. We are immensely proud to have represented Arena REIT since its ASX listing in 2013 and this is another step in its continued growth.’

Hall & Wilcox has a strong focus on real estate capital, with extensive experience in property acquisitions, capital raising and capital management transactions, including secondary retail and institutional offerings, capital raising transactions by managed investment schemes and stapled security structures.