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Nabarro advises new client, London & Regional Properties, on third deal worth over £200 million

19 July 2010

Nabarro LLP has advised London & Regional Properties, (L&R Properties) on a third acquisition in recent months. The transaction involved the purchase in conjunction with Starwood Capital of the Cumberland Hotel in Marble Arch for a price in excess of £200 million and it is believed to be the largest hotel acquisition in Europe so far this year. Nabarro represented the joint venture vehicle on the acquisition. The two earlier acquisitions were of the Mariott Hotel in W1 and Elizabeth House - a potential redevelopment site next to Waterloo Station and expected to have an end value of circa £1bn.

The Nabarro team was led by Ciaran Carvalho.Others team members were Clare Thomas and Matthew Barnes (real estate), Jonathan Cantor, Lee Sheldon and Caroline Ord (Funds and Indirect Real Estate) Simon Rose, Daniel Kennedy and Phil Anderson (tax) and Catrin Evans (Banking).

Ciaran Carvalho, real estate partner at Nabarro comments:

"This was our third transaction with L&R in recent months and it was again enjoyable and interesting. Despite the time pressures and some of the challenges of the deal we were able to continue building our very good working relationship with the L&R team and successfully close the deal on time."

For more information contact Ciaran Carvalho (+44 (0)20 7524 6152).