Ashurst has advised Oxford Properties on the refinancing and the 50% joint venture sale of King Edward Court (headquarters of the London Stock Exchange) and St Martins Court (CBRE's London headquarters) to Madison International Realty for c£200 million.
Ashurst previously advised Oxford Properties on the acquisition and financing of both King Edward Court in 2013 and St Martins Court in 2012. Oxford Properties will act as asset manager for the new joint venture, taking Oxford's third party assets under management in Europe to C$1.8Bn.
David Jones, partner and Head of Real Estate Capital Markets, commented: "We are delighted to work with Oxford Properties on their 50% sale of King Edward Court and St Martin Court. This is a standout deal in the London real estate and real estate finance market for 2016 post-Brexit market conditions and demonstrates the sustained flow of international capital into London and the resilience of London as a key global investment city."
The Ashurst team was led by partner and Head of Real Estate Capital Markets, David Jones and included Sarah Sivyour, Joanne Senior, Chris Benbow and Alex Levart (real estate), Sarah Watkinson, Jessica Jenner, Sarah Winter and Eva Zimmerman (real estate finance) and Simon Swann and Tim Gummer (real estate tax).
