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Nabarro advises Oppenheim and IVG Immobilien AG on purchase of £146m real estate portfolio

3 October 2007

Nabarro has advised Oppenheim and IVG Immobilien, on the acquisition of eight properties from HBG Properties. The portfolio comprises properties throughout the UK, including Leeds, Bristol, Edinburgh, Glasgow and Chiswick, with a total net lettable area of 33,000m sq. HBG will continue to build out and let the schemes, which are at various stages of development.

IVG Immobilien AG is a major listed European real estate investment company that manages over €19 billion of real estate assets across its businesses. It acquired half of the City landmark, The Gherkin in March 2007 from Swiss Re.

Simon Staite, who led the Nabarro team commented: 'We have worked with Oppenheim for five years on a range of their deals, including most recently the acquisition of 100 Jermyn Street, a development joint venture with Gracemark, and the purchase of Prudential Campus in Reading. Oppenheim has recently merged into IVG and we were delighted to act for both companies on this portfolio deal.'

For further information please contact:

Simon Staite
Partner, Commercial Property group
Nabarro

T  44 (0)20 7524 6278
s.staite@nabarro.com