Ogier has advised Paloma Capital, a private equity real estate investor, on their sale of a portfolio of 27 light industrial properties to Partners Group for £253 million.
The properties are spread across the UK, with the majority located in the West Midlands, Yorkshire and the North West. The portfolio has a diversified income stream with a tenant base of over 250 companies from a range of sectors, including logistics, engineering, distribution, trade and manufacturing. Paloma Capital will remain the operating partner to the portfolio and will continue to retain a co-investment interest.
The Ogier team consisted of corporate partner Richard Daggett and funds partner Niamh Lalor, with senior associate Alan Stirling and trainee solicitor Loryn Bridgen. Ogier were part of a team of legal advisers to Paloma Capital led by Greenberg Traurig LLP in the UK.
Richard Daggett said, "We are delighted to have acted in connection with this transaction which showcases Ogier's multi-disciplinary approach, and our proven ability to draw on expertise from the fund formation, regulatory and corporate real estate teams. We have been working with Paloma Capital since it was first established and have been involved throughout the process of building this strong portfolio of assets. The deal demonstrates a growing demand for well located, light industrial properties. This demand is being driven by changing consumer habits such as the rise of e-commerce, a trend which has of course been accelerated as a result of the COVID-19 pandemic."