News & Events | News

Friday 17th November 2006

Corporate and commercial law firm SJ Berwin has advised INVESCO Real Estate Europe on the establishment of a new Fund to invest in hotels across Europe.  The new property fund will focus on the acquisition of single assets and portfolios of hotels operating within the mid-market and limited service sector of the hotel industry in the Euro-zone and European Union. 

It intends to invest in brand new, recently renovated, modern properties or properties that can be brought up to the appropriate standards operated under established hotel brands in the Euro-zone.  At the first closing of the Fund Euro 255 million of equity had been invested by six European institutional investors.  The Fund has a target capitalisation of Euro 800 million.

The SJ Berwin team was led by Corporate Real Estate partner David Ryland who advised on structuring and the establishment of the Fund.  Ed Hall, Associate, assisted and advised on corporate issues.  Deloitte & Touche LLP acted as tax advisers to the Fund.  Luxembourg lawyer, Patrick Reuter of Elvinger, Hoss and Prussen advised on Luxembourg vehicle issues. 

For further information please contact:

David Ryland on +44 (0)20 7111 2252, email david.ryland@sjberwin.com  or Karen Roberts on +44 (0) 7111 2578, email karen.roberts@sjberwin.com     

• On 1 June 2005 SJ Berwin LLP, an English limited liability partnership, took over the business of the SJ Berwin general partnership.  SJ Berwin LLP or an affiliated undertaking has an office in Berlin, Brussels, Frankfurt, London, Madrid, Milan, Munich and Paris.
  
  
• SJ Berwin LLP was named ‘UK Firm of the Year’ at the 2005 Legal Week Awards .  The award recognised SJ Berwin’s five years of international expansion and its involvement in a series of high quality deals.
  
  
• SJ Berwin's Real Estate Division totals 118 staff of which 21 are partners in London and 50 associates, encompassing the disciplines of Commercial Real Estate, Construction, Planning & Environment, Property Litigation and Real Estate Funds.  In addition, there are 3 dedicated real estate tax partners and 1 dedicated real estate partner in Paris.  There is an increasing emphasis on cross firm activity with related areas of Banking and Corporate and with the international offices.  The division acts for blue chip clients including British Land, Royal Bank of Scotland, the Hilton Group, Brixton plc, AXA, The Crown Estate, Marks & Spencer and Gazeley.
  
  
• The Real Estate Team is Legal Business Real Estate Team of the Year 2005.  It was also named "Real Estate Team of the Year" in the Lawyer Magazine Awards 2004, following its advice on the RBS/Canary Wharf transaction the highest-value property investment transaction in the UK in 2004.
  
  
• Revenue from Real Estate represents approximately 21% of the firm's total revenue in London.