Ashurst advises Hillcrest Private Equity Real Estate on its acquisition of 60 Great Portland Street

Global law firm Ashurst has advised Hillcrest Private Equity Real Estate on its acquisition of 60 Great Portland Street, Fitzrovia and financing with a £100 million loan from Birchwood.

The property, previously owned by Nuveen Real Estate, includes 65,400 sq ft of offices and 11,100 sq ft of retail space.

Hillcrest Private Equity Real Estate is an investment platform with £250 million of equity and backed by an institutional investor to invest in UK private equity real estate opportunities. The platform has the flexibility to invest in any real estate asset class and can invest across the capital structure.

The Ashurst team was led by real estate partner Lee Foxcroft, supported by senior associate Michael Condlyffe. Partner Stuart Blacklock and associate Rory McCracken advised on the financial aspects of the transaction.