Processing timeline
26
days
Acquirer(s)
The Trust Company (Australia) Limited as trustee for Pearl Spring ZB 2016 Trust ABN - 77 247 165 207
Target(s) or Vendor(s)
MM DS Investor LLC Company number 10401629
Other parties
Abu Dhabi Investment Authority
The Trust Company (Australia) Limited, as trustee for Pearl Spring ZB 2016 Trust (an Abu Dhabi Investment Authority vehicle), is acquiring a minority interest in the Barings Darling Square Holding Trust. This unit acquisition involves a Sydney 13-level office building; Pearl joins Barings and Tigcorp as unitholders.
The Trust Company (Australia) Limited as trustee for Pearl Spring ZB 2016 Trust ( Pearl ) proposes to acquire a minority interest in the Barings Darling Square Holding Trust (the Darling Square Trust ). The Darling Square Trust, via a subsidiary trust, holds a leasehold interest in property located at Darling Square, 35 Tumbalong Boulevard, Haymarket NSW 2000. The property is the site of a 13-level office building. Pearl will become party to a Unitholders' Agreement in respect of the Darling Square Trust. The other unitholders will be Barings, a global alternative asset management firm (through various entities, including entities owned by its parent MassMutual) and Tigcorp, an Australian property developer and investor. Pearl is an investment vehicle of the Abu Dhabi Investment Authority ( ADIA ). Pearl invests in commercial real estate assets and investment vehicles in Australia, as part of the ADIA’s broader investment group that invests in infrastructure, logistics and hotels.