International law firm Simmons & Simmons has advised Blackrock on the acquisition and £105m financing of “The Castle” – a new London real estate asset.
Located in North London, The Castle project consists of a 32-storey building delivering 462 high quality co-living apartments. The development was acquired from Tide Construction through a joint venture between BlackRock Private Markets and Outpost Management, while the external financing for the acquisition was provided by Precede Capital and QuadReal Property Group.
Simmons Luxembourg and its Corporate and M&A, Banking, Capital Markets and Regulatory teams, advised Blackrock on the Luxembourg aspects of the structure set-up, the joint venture and internal funding aspects, as well as external financing aspects of the transaction.
The team leading on the corporate and M&A aspects of the transaction was comprised of Thierry Somma (Partner), Alexandre Tangton (Supervising Associate) and Raphael Bonhomme (Associate).
Louis-Maël COGIS (Partner, Country Head), Markos Tochovitis (Supervising Associate) and Elena Menidiatis (Associate) led on the financing of the deal.
Commenting on the transaction, Thierry Somma said: “Our experienced, cross-practice Luxembourg team was pleased to be able to bring its first-class advice to support Blackrock. Working on this cross-border transaction demonstrates the depth of expertise Simmons Luxembourg has when advising on complex real estate acquisitions and financings.”
