Law firm acts on Japanese giant’s acquisition of apartment operator

by Sol Dolor08 Feb 2017
Simpson Grierson has advised Daiwa Living Management (DLM) which recently bought a majority stake in Waldorf Australia and New Zealand Group.

The top firm advised DLM together with Cosmos Initia (CI), on the New Zealand aspects of their joint purchase of 75% of Waldorf Australia and New Zealand.

DLM, one of the largest rental housing management companies in the world, and CI bought a 75% stake in Waldorf for an unspecified sum. Waldorf has more than 1,500 apartments in its portfolio, making it one of the largest serviced apartment operators in Australia and New Zealand.

DLM and CI are subsidiary companies of Daiwa House Industry, Japan’s largest publicly-traded construction and development company. In addition to rental housing and apartments, Daiwa also has interests in commercial buildings and urban development.

The Simpson Grierson team was led by Michael Pollard and included Laura Drake and Amy Johns.

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