Cathy Russo

Cathy worked on a 200 lot community title scheme (CTS) for a high rise in Brisbane’s CBD. Cathy worked on the project from initial project planning (including related project agreements and funding certifications) through to successful completion of ‘off the plan’ contracts, managing the registration process involving a volumetric subdivision and drafting the related community management and building management statements. She also negotiated and successfully completed the associated sale of management and letting rights for the building. The development reached completion at a time of downturn in Brisbane CBD apartment market values and tightening of lending by the banks. Despite this, through careful management of the settlement process, completion of all lots was ultimately achieved.

Cathy acted for a large private lending group in its funding of two high rise development buildings including a complex lending structure and undertaking lender due diligence on development structure and agreements. As is frequently the case, time was of the essence and settlement had to be achieved in a very short period just a couple of weeks before Christmas, but Cathy ensured these deadlines were met.

Cathy successfully completed the circa $16 million sale of a large shopping centre involving a range of unresolved tenancy issues the buyer insisted be addressed as part of the sale. These included completion of a tenant expansion that required a seller related entity to carry out the associated building works. Cathy ensured these issues were addressed by structuring the transaction as both a sale and building contract, with appropriate payments included to cover the consideration under both contracts at settlement and suitable retentions held. This ensured settlement was not delayed while the works were finalised.

Cathy acted in the purchase of $3 million Brisbane CBD management rights business involving modified Building Units and Group Titles Act (BUGTA) legislation. A range of challenging issues arose that needed to be addressed in order to protect the client’s investments. Cathy used a range of strategies that achieved a balanced outcome for all stakeholders.