US investor brings in Paul Hastings for £208m Grosvenor Place deal
Paul Hastings Janofsky & Walker has completed its first deal for real estate investment company Beacon Capital Partners - advising on its £208m acquisition of 33 Grosvenor Place.The US firm was instructed by the Boston-based fund manager in November with the deal closing on 19 December.
January 10, 2007 at 07:09 PM
2 minute read
Paul Hastings Janofsky & Walker has completed its first deal for real estate investment company Beacon Capital Partners – advising on its £208m acquisition of 33 Grosvenor Place.
The US firm was instructed by the Boston-based fund manager in November with the deal closing on 19 December.
It won the mandate through its links with Beacon Capital's senior managing director, Paul Parkinson, who joined from longstanding Paul Hastings client Apollo Real Estate.
The Grosvenor Place deal saw Beacon Capital acquire two Anguillan special purpose companies, 33 Grosvenor Place 1 and 2, in order to buy the building.
Paul Hastings London managing partner Mark Eagan led the team acting for Beacon, assisted by partners Emma Bucknall (real estate), Kathryn Brown (corporate), Justin Hamer (tax) and Keith Wilson (corporate).
Davies Arnold Cooper London real estate partner Andrew Boulton advised the sellers – Arab Investments. Cadwalader Wickersham & Taft advised the financers, Bear Stearns, with partner Justin Jowitt leading.
Eagan told Legal Week: "Beacon has stated its intention to be an active player in the UK so we would hope to work with them again. The firms they typically use in the US do not have much real estate presence here so this deal is a good example of what we have been able to accomplish so far building around real estate."
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