Ropes & Gray Advises Expansion Property on £53m Covent Garden Property Acquisition
Global law firm Ropes & Gray has advised South African investors Expansion Property Limited on its £53m acquisition of Southampton Street Unit Trust from Aviva.
The Trust owns the freehold interest in 1 Southampton Street, Covent garden, London W1, a retail, office and restaurant building. The acquisition was part funded by a £30m senior loan provided by PB Bank.
The Ropes & Gray team (all based in London) included tax partner Brenda Coleman and real estate associates David Broome and Belinda Hill, tax associate Chris Agnoli; and real estate finance trainee solicitor Nimneh Hyde.
Ropes & Gray previously advised the group on its acquisition of Park Street Limited, which owned 2 Park Street, London W1 for 74m and its associated financing from PB Bank.