Real Estate Team of the Year
For this award, judges will look for a standout example of real estate-related work, including financing, development or construction, or cases and transactions in planning, environment and regeneration areas.
Advising Oval Real Estate in its acquisition of a multi-tenanted site: the Custard Factory and Fazeley Studios in Birmingham. Faced with the review of 47 freehold titles, eight leasehold titles and 245 leases, DLA trained Kira to extract information from the documents, achieving exchange and completion within four-and-a-half weeks of heads of terms being agreed.
Addleshaw Goddard - HIGHLY COMMENDED
Advising HB Reavis on the acquisition of One Waterloo on the South Bank: the UK’s busiest transport hub. This is planned to be a 950,000 sq ft mixed-use development with a gross potential value of around £1.3bn. The complexity and size of the deal involved the acquisition of a corporate ownership structure with vehicles across multiple jurisdictions.
Acting for Aprirose on its acquisition and financing of QHotels group from Bain Capital Credit and Canyon partners for £525m: the largest UK hotel portfolio acquisition in 2017. Aprirose entered into a JV and obtained debt financing from Goldman Sachs, while undertaking a sale and leaseback of 17 of the freehold assets to separate managed funds on completion.
Advised Royal London Asset Management on the creation of The Royal London UK Real Estate Fund, the largest-ever launch of a UK property fund, valued at £2.7bn. This deal was the first time a life fund has been opened up to external investors to maintain a portfolio and its returns.
Represented Lee Kum Kee Group on its purchase of the London skyscraper, the Walkie Talkie, for £1.28bn: the biggest-ever deal for a single building in the UK. 20 Fenchurch Street is currently the fifth tallest building in the City, as such a complex, high-value transaction involving 30 lawyers across diverse practice areas.
In a notable deal for the North West, Shoosmiths advised on the sale of Allied London’s No 1 Spinningfields development in Manchester for more than £200m. A 19-storey, mixed-use development providing over 310,000 sq ft of accommodation, Shoosmiths advised on the acquisition and pre-letting over the four-year development period.