Offshore law firm Mourant Ozannes has advised Highcross Group in connection with the US$ 1billion (£635 million) sale of the assets of Highcross Regional U.K. Partners and Highcross Regional U.K. Partners III to Northwood Investors, a US based fund manager.
The Highcross property portfolio comprises 7.1 million square feet of office and industrial portfolios in UK regional locations, including Lakeside North Harbour (a business park located in Portsmouth), Pure Offices (a business centre provider which owns and operates 16 centres throughout the UK), the UK Land Estates portfolio (consisting of mainly industrial properties which are held in a joint venture with UK Land Estates), the retail building Broad Gate in the centre of Leeds, and a further 26 office/industrial properties.
Mourant Ozannes Finance and Corporate team, led by partner James Hill with associate James Daniel, acted as Highcross Group’s Jersey legal counsel on the sale, working alongside Jones Day, who acted as English legal advisers.
James Hill commented: “We have acted for Highcross for many years and are delighted to have assisted them on such a large and complex transaction.”
This is the second significant UK property deal that Mourant Ozannes Finance and Corporate practice has advised on in the past month. The team recently advised Hermes on all Jersey related aspects of the sale of 50 percent of the development phase of Wellington Place in Leeds to Canada Pension Plan Investment Board.
Source: www.mourantozannes.com
