SM&B act on purchase of 45% stake in £100m+ commercial property portfolio

Members of SM&B’s Corporate & Commercial team have advised Atlantic Leaf Properties Limited, a Mauritian-listed property investment company, on the purchase of a 45% stake in a UK-based commercial property portfolio valued at £104.5m.  The assets making up the property portfolio are fully let to a member of the DFS Furniture plc group.

The deal involved the acquisition of units in a Guernsey Property Unit Trust and of a 50% share in the company that manages the portfolio.  The Joint Venture partnership is between Atlantic Leaf and LMP Retail Warehouse JV Holdings Ltd (LMP), who have held their stake in the portfolio for several years.

This was a complex transaction, involving coordination and negotiation of both onshore and offshore elements as well as the negotiation of the post-transaction joint venture arrangements.

SM&B Corporate Partners Peter Weiss and Neal Hodges led the transaction, with Reed Smith LLP advising the seller and Jones Day representing LMP.

For more information, please see the announcement here.