KSL is a US-based private equity fund manager, who are establishing a global luxury lodge investment platform, and the Baillie Lodges portfolio was its first acquisition in Australia. The portfolio consisted of the management company, Southern Ocean Lodge in Kangaroo Island, SA and Longitude 131, near Uluru in the Northern Territory. A further property, Silky Oaks Lodge in the Daintree rainforest, QLD, was acquired shortly thereafter and will be re-launched as a Baillie branded property after renovation.
Reported as being the first major luxury portfolio sale in Australia in more than a decade, the Ashurst team was involved in the preparation and negotiation of a complicated set of transaction documents to effect the acquisition of properties, business and development rights. Due diligence was carried out on the various properties and businesses and involved consideration of a wide range of matters ranging from Northern Territory licensing and permit requirements to subdivision and titling issues. Ashurst was also involved in establishing KSL's purchaser entities in Australia.
Partner John Stawyskyj commented:
"We are delighted to have been involved in Transaction Deal of the Year at the HICAP ANZ Awards. It is wonderful to have worked with a global investor of the calibre of KSL, investing in Australia for the first time. This transaction involved properties in multiple jurisdictions, meaning our team drew on support from across our offices to deliver the best possible outcome for our clients. This deal is a great example of our team's collaborative mindset, so it is wonderful to be recognised for our work. It was a great pleasure to work with the KSL team, congratulations to all involved."
The Ashurst team was led by partner John Stawyskyj with support from counsel Lindy Randall, senior associates Alana Eyles and Emmy Ko, and associate Manny Kanellis.
