King & Wood Mallesons has advised Brookfield on the sale of approximately half its share in the iconic Southern Cross Towers complex in Melbourne.

The deal saw Brookfield Prime Property Fund and Brookfield Australia Property Trust together sell a 50% stake in Southern Cross East for $457 million, and Brookfield Prime Property Fund sell a 50% stake in Southern Cross West for $218 million.

The KWM team was led by Partner, Felicity Savage, supported by solicitor, Michelle Tat. Partner, Ken Astridge and Senior Associate, Natalie Goodacre led the financing.

Commenting on the deal Partner Felicity Savage said: “We are proud to have worked alongside Brookfiled in a strategic sale that will enable the group to inject capital into further key developments.”

KWM are also currently advising Brookfield on the redevelopment of Wynyard Place, Sydney.