Ogier in Jersey has acted for Northwood Investors in connection with the acquisition of more than 7.1 million square feet of office and industrial properties located throughout the regional markets of the UK for £635 million from Highcross, and in addition the acquisition of the property fund manager Highcross Strategic Advisers Limited.
The property portfolio comprises of Lakeside North Harbour a business park located in Portsmouth, Pure Offices a business centre provider which owns and operates 16 centres throughout the UK, the UK Land Estates portfolio consisting of mainly industrial properties which are held in a joint venture with UK Land Estates, the retail building Broad Gate in the centre of Leeds, and a further 26 office/industrial properties. The team at Ogier advised Northwood on both of the acquisitions and the financing elements of the transaction.
Ogier Partner, Simon Dinning, said "We were delighted to advise long standing client Northwood on this transaction. Our combined expertise in the real estate and finance sectors enabled us to provide focused advice on this multi-facetted deal. We look forward to our continued relationship with Northwood." The legal team consisted of Simon Dinning, Paul Burton, Edward Scott, and Lisa Floris.
Northwood Investors is a leading privately-held global real estate investment and management firm with approximately $4.1 billion of assets under management. Northwood owns and manages a diverse portfolio of real estate assets worldwide including office, retail, hospitality, residential and industrial properties.