Ropes & Gray Advises on £107 Million Acquisition of City of London Office Building
Ropes & Gray has advised a South African investor, represented by Pembrey Asset Management, on the indirect acquisition and financing of One Bartholomew Lane in the City of London, from Hines UK, as asset manager acting on behalf of a sovereign wealth fund investor.
The Grade A office building, located in the heart of London’s financial district, opposite the Bank of England, was redeveloped in 2010 behind a retained historic façade. It comprises 79,838 sq ft over 13 floors and is fully let to 11 tenants, a mix of technology and financial services companies, with a WAULT of four and a half years to expiry.
The Ropes & Gray team was led by private equity real estate partner David Seymour, with finance partner Malcolm Hitching and private equity real estate senior associate David Broome, all based in London. Other members of the team, also based in London, included tax partner Brenda Coleman and tax associate Chris Agnoli, private equity real estate associates Harriet Banner and Nick Steynberg and finance associate Adjoa Kwarteng.