Ashurst sets up dedicated real estate funds practice
Legal Week Reports
January 25, 2006 at 07:03 PM
2 minute read
Ashurst has launched a dedicated real estate funds practice, headed by partner David Evans, as the City leader targets the lucrative European property financing market.
Evans, who has been with Ashurst for 20 years, has this month moved from its real estate group into the corporate department, in order to tap into the wider resources of the practice and build up its access to real estate funds work.
Evans' practice covers real estate fund structuring and investment, as well as Islamic financing techniques with key clients including Citigroup, Royal Bank of Scotland (RBS) and Australian investment house Babcock & Brown.
He told Legal Week: "The whole objective is to ramp up our real estate funds work.
"Real estate has become a key area for investment in the past five years and it is easier to tap into the wider sources of deals and client contacts from here in corporate than it was in real estate, as a lot of the major players are investment banks."
Previous instructions for Evans include acting for a vehicle financed by RBS and Teesland on an acquisition of 50 industrial properties for £250m from Brixton and advising on the structuring of an industrial real estate fund EHI Fund for around €700m (£480m).
Evans will be the only lawyer at Ashurst working full time on real estate fund work, a practice area that is currently dominated by Clifford Chance, Linklaters and Sidley Austin.
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