Ashurst and BLP lead Korean purchase of City property
Ashurst and Berwin Leighton Paisner (BLP) have landed key roles on Samsung SRA Asset Management's acquisition of London's 30 Crown Place, in the Korean fund manager's first overseas investment. The sale of the 192,070 sq ft office building, the London base of Pinsent Masons, is reportedly valued at £142m. Ashurst advised Samsung SRA – a new client of the firm – and Cushman & Wakefield Investors, fielding a team led by real estate partners David Jones and Sarah Watkinson and tax partner Paul Miller.
May 02, 2013 at 07:03 PM
2 minute read
Ashurst and Berwin Leighton Paisner (BLP) have landed key roles on Samsung SRA Asset Management's acquisition of London's 30 Crown Place, in the Korean fund manager's first overseas investment.
The sale of the 192,070 sq ft office building, the London base of Pinsent Masons, is reportedly valued at £142m.
Ashurst advised Samsung SRA – a new client of the firm – and Cushman & Wakefield Investors, fielding a team led by real estate partners David Jones and Sarah Watkinson and tax partner Paul Miller.
Lawrence Graham advised the banks on the deal – Deutsche Hypo and Deutsche Postbank – with a team including finance partner Nick Turner, tax partner Elliot Weston and real estate partner Christine Jackson.
Other international law firms taking related roles on the deal included offshore duo Appleby and Carey Olsen as well as Korean firms Kim & Chang and Lee & Ko.
BLP advised the seller, Hannover Leasing, with real estate partner Damian Fleming heading the firm's team. BLP also advised Hannover on its £139m purchase of the office in 2011, led by client relationship manager James Knox.
Fleming said: "Our German office has taken off really well and James has been working to build our client base there. Hannover is a very good international real estate client of ours and we are optimistic about working with them in the future."
BLP launched in Germany in 2011 with the hire of a four-strong team from Linklaters. The firm's bases in Berlin and Frankfurt focus on high-end real estate work.
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