MinterEllison's role in the transaction involved advising three domestic lenders and three international lenders from Hong Kong and Singapore.

The firm's Finance and Property teams worked on the national portfolio of properties (which consisted of 35 industrial assets situated in New South Wales, Victoria, Western Australia and Queensland), and together navigated jurisdictionally specific registration requirements for real property securities.

MinterEllison's Tax team also provided income and stamp duty advice, and insurance advice came from the firms Insurance & Corporate Risk team.

Property Exchange Australia (PEXA) was used to register the lenders' real property mortgages over the assets, and to discharge existing mortgages. To date, this is one of the largest transactions of this type to have successfully adopted the use of PEXA.

MinterEllison has previously advised the lenders to Propertylink on numerous financings, including the initial public offering of Propertylink in August 2016.

ESR, a portfolio company of US private equity firm Warburg Pincus, has more than A$13 billion funds under management and is a leading Asia-Pacific based real estate and funds management platform with a focus on logistics assets.

Propertylink is an ASX-listed internally managed REIT focused on industrial and office assets, and a constituent of the S&P / ASX 300 Index. The Propertylink portfolio consisted of 35 industrial and logistics assets located in New South Wales, Victoria, Western Australia and Queensland.

The team was led by Leigh De Jong (Partner, Finance Sydney) and Alice Rubira (Senior Associate, Finance Melbourne) with assistance from Victor Salman (Lawyer, Finance Sydney), Jake Kaiser (Graduate, Finance Sydney) and William Xu (Graduate, Finance Sydney). Due diligence was completed by Property teams in Sydney, Melbourne, Perth and Brisbane.