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Nabarro assists new client in purchase of Alconbury Airfield
19 November 2009
Nabarro LLP has recently acted for new client GI Partners, a trans-Atlantic private equity firm and the financial backers of the new real estate company Urban & Civic, set up by industry figureheads Nigel Hugill and Robin Butler, in Urban & Civic's first major purchase. Urban & Civic, has made a £27.5 million investment into a 1,100 acre site at Alconbury Airfield and some adjoining land.
Nabarro advised GI Partners on the tax structure, the joint venture arrangements and all aspects of the transaction to acquire the large site just outside Cambridge, which has approximately 100 tenancies and consent for 7m sq. ft. of commercial development. The site was commissioned as an American airbase during WWII and declared surplus to requirements by the Ministry of Defence in March 1995. GI Partners recently closed its third fund, GI Partners Fund III after raising $1.9bn and this fund will provide the financial resources for Urban & Civic.
The team at Nabarro was led by partner Ciaran Carvalho, who had previously worked with both Hugill and Butler in the past, as well as GI Partners. Assisting him was real estate partner Marie Scott, corporate partner Justin Cornelius, tax partner Simon Rose and environmental partner Clare Deanesly.
Ciaran Carvalho, real estate partner at Nabarro comments:
“Having worked with GI Partners and Nigel and Robin on previous occasions it was fantastic to work with them both again on this first purchase for U&C. We look forward to this relationship continuing and we’re excited about what the future may hold.’
If you would like any further information or have any queries please contact:
Ciaran Carvalho
Partner, Nabarro LLP
T +44 (0)20 7524 6152
c.carvalho@nabarro.com
or
Charlotte Collins-White
Lansons Communications
T +44 0()20 7566 9706
charlottecw@lansons.com
