Carey Olsen advises on £160m retail parks acquisition

Posted: 15/12/2020

Carey Olsen's British Virgin Islands (BVI), Guernsey and Jersey corporate teams have advised pan-European commercial real estate investor and asset manager M7 Real Estate on its recent acquisition of a £156.9m UK retail parks portfolio from RDI REIT.
 
Carey Olsen further assisted from a BVI, Guernsey and Jersey perspective with the circa £85m loan facility put in place in order to finance the acquisition of a wider portfolio of assets.
 
The portfolio acquired by M7 Box+ II Midco consisted of six assets – two in London and the remaining four in Banbury, Bangor, Edinburgh and Kilmarnock – with occupancy of 98.4%.   
 
London-based Partner Jasmine Amaria led the BVI team with the assistance of Senior Associate Katrina Lindsay. 

The Guernsey team was led by Partner Tom Carey and Senior Associate Matthew Brehaut, while the Jersey team was led by Partner James Mulholland and assisted by Counsel Claire Le Quesne and Associate Stephanie Hobbs. 
  
Carey Olsen worked alongside Birketts, onshore counsel, with regard to the acquisition, and with Goodwin Procter (UK), onshore counsel, with regard to the financing.


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