Related links
Nabarro concludes two acquisitions in time for Christmas
4 January 2010
Nabarro LLP has concluded two concurrent deals for its client Hermes REIM in record time before the Christmas holiday. The first, completed on 23 December, was the acquisition of the 18-property Hawk portfolio acquired from Friends Provident. The portfolio contains high street retail, office, retail warehouses and multi-let industrial estates with over 100 tenants.
The second, completed a day later, was the acquisition of the 35 unit Christopher Place Shopping Centre in St Albans, acquired from Criterion Group for £35 million. The shopping centre acquisition involved complex tax and corporate issues and moved at a high pace, completing eight business days after instructions were received.
Nabarro has been on the Hermes panel since 2007.
The team at Nabarro on the Hawk portfolio acquisition was led by real estate partner Simon Staite assisted by associate Ian Craig. Partners Jonathan Cantor (Indirect Investment) and Rob Raimes (Real Estate) led the Nabarro team on the shopping centre acquisition, assisted by associates Lindsey Elliott and Will Forrest. The in-house team acted for Friends Provident; Osborne Clarke acted for Criterion Group.
Rob Raimes, real estate partner at Nabarro comments:
“We are delighted to be active for Hermes on these two deals at such a competitive time and are especially pleased to have been able to complete both acquisitions within such a tight time period and to the timescales set by both sellers who insisted on pre - Christmas closing. The depth of our real estate and indirect investment teams means we can take on these types of transaction with tight timescales and, regardless of the complexity, get them all done on time”
