Ashurst is advising the real estate investment fund manager Tritax in connection with the sale of the entire issued units of Tritax Brindleyplace (7, 8 & 10) Unit Trust ("Unit Trust") to a German institutional investor.
The Unit Trust is a listed Jersey Property Unit Trust (JPUT) managed by Tritax Management LLP. Its assets comprise three Grade A office buildings located in Birmingham's Central Business District and comprise 293,000 sq ft of commercial space, let in the majority as offices to RBS with Sainsbury's holding the retail element plus 39,000 sq ft of residential accommodation.
The Ashurst team is being led by corporate partner Nick Cheshire and tax partner Alexander Cox, assisted by associate William Slaiding and solicitors Tamsin Crawford and Emma Camilleri. Partner Melanie Jordan and counsel Joanne Senior are advising on the real estate aspects. Luxembourg-based corporate partner Isabelle Lentz and associate Paul Witte are also assisting on the transaction.
Tritax, which has a portfolio under management of £1.49bn, consisting of over 12m sq ft, is a long standing client of Ashurst, with the firm having advised the company on the structuring and establishment of Tritax Brindleyplace (7, 8 & 10) Unit Trust in 2009.
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