Carey Olsen advises on trio of giant business parks

Thursday 16 October 2014

Carey Olsen has advised on the Jersey law aspects of the £430 million purchase of three UK business parks, in a joint venture between funds managed by Oaktree Capital Management, LP and Patrizia Immobilien AG.

The US and German asset management groups acquired the three properties from Jersey-registered Hermes Real Estate Investment Management Limited in July. The acquisition comprises Chineham Park in Basingstoke, Birchwood Park in Warrington and the 2 million sq ft Hillington Park in Glasgow, which is Scotland's largest business park with over 300 companies and 3,500 employees on site.

Carey Olsen partner James Mulholland was assisted by senior associates Chris Griffin and Claire Le Quesne and the team worked alongside international law firms Reed Smith LLP and Gibson Dunn & Crutcher LLP.

Mr Mulholland said: “Our real estate private equity activity continues to build with several high-profile deals completing as the summer draws to a close and further instructions keeping the team very busy. This was a complex and fast-paced acquisition, which gave us an opportunity to showcase our agility and the breadth of our expertise in this area."