Overview
International law firm McDermott Will & Emery advised Invesco Real Estate the $90bn global real estate investment manager in its joint venture with GARBE Industrial Real Estate (“GARBE”).
The joint venture was structured as a limited partnership between Invesco Real Estate, and GARBE, to acquire, development land in the East Midlands, and to build two Class A industrial units for logistics/industrial use at a total developed area of c 500,000 sq ft.
Rob Johnston, Managing Director – Head of Investments, UK & Nordics at Invesco Real Estate said, “We’re delighted to be partnering with GARBE to secure this rare opportunity to acquire a prime logistics site in the East Midlands and to further expand our UK and European logistics portfolio.”
GARBE is a company focused on acquiring, managing, and disposing of real estate assets and investments across Europe. The company operates as a holding entity for various project companies involved in real estate activities, including logistics and commercial properties.
Invesco Real Estate is a global leader in the real estate investment management business with EUR 79.8 billion in real estate assets under management and 21 regional offices across the U.S., Europe and Asia. The team has a strong track record across all the commercial sectors, hotels and residential sectors.
The McDermott team advising on this complex multi-jurisdictional transaction was led by the Firm’s new Real Estate group in London led by partners Darren Rogers and Devina Rana, and senior associate Neeraj Tah. McDermott were supported by Ogier in relation to the Lux and Jersey law aspects of the transaction.
Darren Rogers said, “I am very proud to have led the team supporting Invesco Real Estate in this new partnership with GARBE. Complex multi-layered real estate transaction of this type play to our strengths of our group and it is brilliant to be celebrating this at McDermott so soon after joining. We look forward to supporting Invesco Real Estate in the expansion of the logistics portfolio.”
McDermott’s London Real Estate group focuses on the full spectrum of complex real estate transactions. Darren’s particular emphasis is on real estate capital markets transactions, major City of London lettings, joint ventures, operational real estate, major HQ leasing and large-scale mixed-use development work, whilst Devina has a particular emphasis on commercial real estate with extensive experience in high-value investment acquisitions and disposals for UK and international clients, including institutional investors, developers, retail tenants and major corporate landlords. Neeraj focuses on the corporate real estate aspect of transactions, with extensive experience in complex UK, cross-border and international indirect/corporate real estate transactions including strategic M&A and private equity deals, investment management mandates, structured acquisitions of real estate, joint ventures, and multi-investor funds.
McDermott’s global Real Estate Group operates on an integrated interdisciplinary platform, drawing upon legal skill in fund formation; environmental, social and governance; REITs and tax structuring; private equity; mergers and acquisitions; capital markets; and regulatory, healthcare, dispute resolution and antitrust matters. The team brings cohesiveness, collaboration and collective experience to sophisticated transactions shaping the most iconic skylines around the globe.
About McDermott
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