Press release from Carey Olsen on Tuesday 15 December, 2020.
Carey Olsen's British Virgin Islands (BVI), Guernsey and Jersey corporate teams have advised the leading pan-European commercial real estate investor and asset manager, M7 Real Estate Ltd, on its recent acquisition of a £156.9 million UK retail parks portfolio from RDI REIT.
Carey Olsen further assisted from a BVI, Guernsey and Jersey perspective with the circa £85 million loan facility put in place in order to finance the acquisition of a wider portfolio of assets.
The portfolio acquired by M7 Box+ II Midco Limited consisted of six assets, with two in London, and the remaining four in Banbury, Bangor, Edinburgh and Kilmarnock and occupancy of 98.4 per cent.
London-based partner Jasmine Amaria led the BVI team with the assistance of senior associate Katrina Lindsay. The Guernsey team was led by partner Tom Carey and senior associate Matthew Brehaut, and the Jersey team was led by partner James Mulholland and assisted by counsel Claire Le Quesne and associate Stephanie Hobbs.
Jasmine said: "Working together as a cross-jurisdictional team from Carey Olsen, we were pleased to assist M7 Real Estate on another significant addition to its UK property portfolio. The deal also serves to underline the depth and breadth of our M&A and real estate offering and the global service the firm can provide to clients."
The Carey Olsen teams worked alongside Birketts LLP (onshore counsel) with regard to the acquisition and with Goodwin Procter (UK) LLP (onshore counsel) with regard to the financing.