Monday 25 September 2017

Appleby advise Blackstone on GBP559 million acquisition

Thursday 07 September 2017

Appleby advise Blackstone on GBP559 million acquisition
Leading offshore law firm Appleby has provided Jersey and Guernsey based legal advice to real estate funds managed by Blackstone in relation to a GBP559 million acquisition of a portfolio of Jersey, Guernsey and UK registered investment vehicles, containing 140 light industrial assets across the UK.

The portfolio, one of the largest light industrial portfolios privately held in the UK, includes a diverse range of tenant sector exposure, such as logistics and storage, general manufacturing and construction, food and beverage, business services and health care.  Appleby also acted for the respective borrowers in relation to the senior and mezzanine financing provided in order to part-fund the acquisition and the investment portfolio’s re-organisation.

The Channel Islands team at Appleby was led by Andrew Weaver, Corporate Partner in Jersey and Jeremy Berchem, Corporate Partner in Guernsey.  Senior Associate Chris Spencer and Associate Chris Smedley assisted in Jersey and Associate James Walsh assisted in Guernsey.

Appleby Partner, Andrew Weaver commented: “We are delighted to have once again assisted the team at Blackstone in this exciting time for their business.  The transaction is an excellent example of the expertise of our pragmatic, client-centric and solution driven Channel Islands team.”

Appleby’s Merger and Acquisitions (M&A) team is well-positioned to swiftly advise clients on a wide range of M&A activities in the offshore region.  Its unique jurisdictional reach means that Appleby is able to advise clients on complex, cross-border transactions involving the offshore jurisdictions that are most often encountered.  The team regularly work with FTSE 100 and Fortune 500 companies around the globe, to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions.