Herbert Smith Freehills (HSF) and Bryan Cave Leighton Paisner (BCLP) have picked up roles on the take private of FTSE 250 property investment company Daejan Holdings by the company's founding family.

HSF is representing newly-created property investment and development company Centremanor Limited, owned by the Freshwater family, on its bid to take Daejan private in a deal that values the company at £1.3 billion.

HSF corporate partners Alex Kay and Caroline Rae are leading for the firm, with support from the firm's global finance co-head Gary Hommel and corporate debt partner Kristen Roberts.