Public and private M&A

The acquisition of a majority stake in a serviced apartment provider, for an institutional investor with an increasing interest in the aparthotel/serviced apartment sector.

Carrying out vendor due diligence and transaction structuring in respect of a major public entity transaction, involving local counsel in multiple jurisdictions, and multi-faceted environmental issues, in advance of disposal and/or spin-off.

Acting on the corporate restructuring and disposal of the mapping and navigation division of a market leading business, including property-level subdivision and ongoing management.

Advising Global Infrastructure Partnership on the property aspects of the acquisition of Gatwick Airport, together with the related acquisition finance.

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Real estate finance

Real estate lending:

Advising an institutional debt fund respect of numerous development finance and acquisition finance facilities, at both mezzanine and whole-loan levels.

Investing, on behalf of a consortium of private individuals & institutional investors, in a shopping centre in Wales, through a non-recourse loan structure with priority payments, and the associated joint venture arrangements.

Senior financing within a multi-layered loan structure of a residential development in Croydon for an institutional debt fund.

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Real estate investment and development

Acquisitions and disposals:

The acquisition of a major build-to-rent led mixed-use regeneration project in Manchester, including structuring arrangements with delivery partners, funding and development documentation and joint venture negotiations, and the subsequent financing of the development with a third party lender.

Development and forward funding:

The acquisition and forward funding of the FCA’s new building in Stratford, East London, including acquiring and restructuring the JPUT vehicle, renegotiating the development agreement, and drafting and negotiating the funding agreement.

The acquisition, development, preletting and finance of the Principal Place site in Central London, including determining the residential estate structure and general development matters. This also included the major pre-let of the commercial element of the site to Amazon as their new London headquarters and the joint venture arrangements in respect of the residential tower.

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Joint ventures

Acting for a major international investor on:

The sale of a 50% stake in their property at Principal Place prior to development, and ongoing advice in relation to joint venture matters; and

Their development of London Wall Place, London, in joint venture with Oxford Properties.

Advising a private investor on his entry into a joint venture with a New York investment fund in relation to investments in real estate assets in England & Wales.

Acting for Ineos in their joint venture with PetroChina relating to petrochemicals refining and entrepreneurial businesses in France and Scotland.

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Real estate

Asset management:

Advice in relation to the ownership, management and disposal of the More London estate, London SE1 (sale price reported at £1.7 billion).

Advising various institutional landlords and corporate occupiers on leasing arrangements.

Hospitality and leisure:

Advising a private individual in relation to his role as forward funder to a luxury hotel and members’ club in Oxfordshire.

Representing a major institutional lender in relation to its acquisition of an aparthotel and the associated operating business in Manchester, in advance of a major refurbishment. This transaction included the introduction of an Opco-Propco structure and acquisition and development financing.

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Hotels

Acting for an institutional investor in respect of its stake in a hotel and leisure development (subject to both occupational lease and hotel management arrangements) by way of both equity and debt structure.

Advising a private individual in relation to his role as forward funder to a luxury boutique hotel and members’ club in Oxfordshire.

Advising Four Seasons on the termination of its management agreement at Canary Wharf, London.

Representing Ares Management in relation to its acquisition of an aparthotel property and (through an operating partner) the associated business in Manchester, in advance of a major refurbishment, with the associated acquisition and development funding and the imposition of a Propco-Opco structure.

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Real estate investors and developers

Catriona has experience acting for a broad range of real estate investors and developers, both international and domestic. She acts on acquisitions and disposals (of both assets and property-holding SPVs), forward funding and development, and on asset management matters following acquisition.

The acquisition, development, preletting and finance of the Principal Place site in Central London, including determining the residential estate structure and general development matters. This also included the major pre-let of the commercial element of the site to Amazon as their new London headquarters and the joint venture arrangements in respect of the residential tower.

Advising a consortium led by Stanhope plc on the acquisition and development of the BBC Television Centre Site. This transaction included a leaseback element, and a multi-layered ownership and estate management structure. Development finance was later acquired, and various occupational arrangements restructured.

Advising an investor on a number of transactions (including through a period of secondment to an inhouse r.ole), including the disposal of 125 Old Broad Street through a sale of the corporate holding vehicle.

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