30 July 2012
Clifford Chance acts on the sale of Broadgate West in London EC2
Clifford Chance Real Estate has advised the seller, a private company owned by Peter Marano and Michael Dennis, on its sale of Broadgate West in London EC2, to a joint venture between HSBC Alternative Investments Limited (HAIL) and Hines.
The Clifford Chance team, led by London partner and Global Head of Real Estate Sector, Adrian Levy, advised on all aspects of the sale including real estate, corporate, finance and tax.
The 42,000 sq m prime office-led development, in the heart of the City of London, incorporates two phases with both buildings fully let to tenants including UBS, GFI, Ashurst and Shearman & Sterling.
Commenting on the transaction, Adrian Levy said: "We have been involved in the entire life cycle of the asset and were very pleased to advise our client on this significant sale. It demonstrates that there is continued appetite in the market for prime office developments in London."
Adrian was supported on the transaction by Real Estate partner and London Head of Real Estate, Jonathan Solomon, Real Estate senior associate Simon Gilbert, Corporate associates John Went and Alexander Drysdale, Finance senior associate Hal Livingstone, Tax Partner David Saleh and Tax associate Allegra Feltz.
Peter German of Carey Olsen advised the seller on Jersey law aspects of the sale.