Guernsey lawyers advise Blackstone on £559 million acquisition

05 September 2017

Fund manager Blackstone has completed the acquisition of a portfolio of Channel Islands and UK registered investment vehicles worth £559 million.

Offshore law firm Appleby Global provided the Guernsey and Jersey-based legal advice to the real estate funds managed by Blackstone as part of the deal.

The portfolio, which contains 140 light industrial assets across the UK, is one of the largest light industrial portfolios privately held in the UK. It includes a diverse range of tenant sector exposure, such as logistics and storage, general manufacturing and construction, food and beverage, business services and healthcare.

Appleby also acted for the respective borrowers in relation to the senior and mezzanine financing provided in order to part-fund the acquisition and the investment portfolio’s re-organisation.

Appleby Guernsey Corporate Partner Jeremy Berchem was one of the leaders of the Channel Islands team, while Guernsey Senior Associate James Walsh also assisted.

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