Ashurst advises Roebuck Asset Management and a syndicate of Korean investors on GBP90m off-market logistics sale
Global law firm Ashurst has advised Roebuck Asset Management, a London based pan-European real estate asset manager, on the off-market sale to Tritax Big Box REIT Plc on behalf of a syndicate of Korean investors of the 872,000 sq ft state of the art distribution unit let to Accolade Wines in Avonmouth, UK.
The multi-disciplinary Ashurst team was led by tax and structuring partner Tim Gummer. Partner Sarah Sivyour, assisted by senior associate Chris Benbow and associate Kate Mullan, advised on corporate real estate matters. Partner Ben Patton and senior associate Chris Whitehouse advised on construction matters, and partner Jessica Jenner and senior associate Sarah Winter advised on real estate finance matters. Tax and structuring advice was provided by partners Tim Gummer and Simon Swann and associates Shayaan Zaraq-Bari and Laura Burt.
Gummer says: "I am delighted Ashurst have been able to assist Roebuck Asset Management and their Korean investors on this off-market logistics sale in a hugely competitive UK logistics market. This was a real team effort from all parties involved and comprised the fifth European commercial real estate deal Ashurst have worked on with the Roebuck team and their Korean capital partners. We look forward to continuing to build the relationship further in the future."
Charlie Seaton, Roebuck Asset Management, says: "We are really pleased to have concluded this off market sale to Tritax, delivering excellent performance for our Korean capital partners, significantly above our anticipated investment returns. It has been a pleasure working with the Ashurst team again, who have helped facilitate a very smooth transaction process."