Ropes & Gray has advised Brookfield, through its real estate solutions strategy, alongside Copley Point Capital, a specialist manager and operator of UK industrial real estate, on a recapitalization of three big-box distribution warehouses from Tritax Big Box REIT with a transaction value of c. £125 million.
The 1.4 million square foot portfolio consists of three Grade A assets in prime locations across the East Midlands and North West markets with strong transport links and undersupply of high-quality stock. The three assets in Skelmersdale, Knowsley and Worksop are fully leased and well-positioned to benefit from long-term fundamentals. Tritax will retain a small minority interest and Copley Point, who are investing alongside Brookfield, will manage the portfolio.
The Ropes & Gray team was led by associates Joseph Patchitt. Other members of the team included tax partner Chris Agnoli and associate Charlie Voisey.
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