King & Wood Mallesons, Ashurst and Allens are the legal advisers in a multibillion-dollar bidding war for a commercial real estate fund controlled by Commonwealth Bank of Australia Ltd.

Sydney-based Dexus Property Group and Canada Pension Plan Investment Board on Tuesday made a $2.7 billion offer for Commonwealth Property Office Fund, which as of June 30 owned and managed 25 Australian properties worth $3.5 billion.