Ogier has advised a long term private equity real estate client in connection with its £162m sale of the Sterling Industrial Holdings Unit Trust to private equity firm Westbrook Partners. Comprising 28 assets located throughout the UK, including the 1m sq ft building at Imperial Park in Newport, the portfolio sold above the asking price amidst strong investor interest.
The Ogier legal team, led by partner Richard Daggett with senior associate Amy Garrod and trainee solicitor Jamie Colquhoun, worked closely with CMS Cameron McKenna Nabarro Olswang LLP and Mishcon de Reya LLP on the deal.
Richard Daggett said: "We assisted on the establishment of the platform back in 2015 and have been involved throughout, watching a high calibre industrial portfolio come to fruition. We are delighted to see how the hard work of all those involved over the past three years has resulted in the portfolio's successful sale."