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Ogier advises Urban Logistics on seven-site Crown Portfolio purchase

Ogier advises Urban Logistics on seven-site Crown Portfolio purchase

Monday 29 June 2020

Ogier advises Urban Logistics on seven-site Crown Portfolio purchase

Ogier has acted for property investment company Urban Logistics REIT plc on the acquisition of seven distribution properties for a total of £47.2 million from Legal & General Investment Management.

This was one of the first major real estate transactions to take place under the lockdown imposed as a result of the COVID-19 pandemic.

Partner Richard Daggett, who led the Ogier Corporate team, said: "This transaction is indicative of the strength of the mid-sized logistics warehousing sector and the likelihood that this sector will continue to thrive in a post-COVID environment.

"Separately, our investment in technology ensured that despite the challenging circumstances presented by the lockdown, we were able to facilitate the smooth, remote completion of this deal. We used tools such as electronic signature software DocuSign to support our clients and the other parties involved in this complex transaction and avoid the difficulties which the restrictions could have posed.” 

Christopher Turner of Urban Logistics said: "We are pleased to have worked closely again with Ogier on another successful transaction and despite the difficult environment found the team pragmatic and supportive throughout the deal. We continue to be impressed with the breadth of expertise that Ogier brings to the table and the positive support that they deliver."

The Ogier team included Marie-Claire Fudge, Chloe Watson-Hill and Molly Ryan.

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