News | By practice area

Tuesday 16th October 2001

SJ Berwin have completed another real estate fund.

Leading property finance expert, David Ryland, and property partner, Ed Page, acted for Axa Real Estate Investment Managers UK Limited (Axa REIM) in connection with the establishment of the t3 Partnership, a joint venture between Axa and Ashtenne Holdings Plc. The Partnership will acquire, develop, refurbish and actively manage properties that are the focus of trade counter occupiers. It is intended that Ashtenne Trade Parks Limited, which currently owns 5 properties, will be acquired by the Partnership.

The team that worked on the transaction included Heather Corben (Tax), Daniel Tunkel (Financial Services) and Simon Reid (Property).

David Ryland specialises in property finance. He has been at the forefront of the development of new vehicles for indirect investment in property and has acted on establishment of the property funds for a sum well in excess of £4 billion. He is also a specialist in hotel related transactions, including management contracts, sales, purchases and financing and acts for a wide range of operators and investors. David has been ranked in a series of publications as one of the leading lawyers in his area. In the Legal 500 2000, he was described as "a pioneer in the development of new property vehicles" and "property finance guru" and in Chambers 2001 as "the best legal mind in the country" and "in a class of his own" He has also been ranked in surveys in Euromoney as one of the world's leading real estate lawyers.

Recent high-profile deals include:

Acting for Schroders in connection with the establishment of

• the West End of London Property Unit Trust valued at £300 million
• the Hercules Unit Trust valued at £500 million
• the City of London Offices Unit Trust valued at £600 million
• the Gresham Property Partners Limited Partnership

Acting for Hilton in connection with the sale and leaseback of 11 of their hotels for £312m

Acting for Marylebone Warwick Balfour in connection with the acquisition of the Malmaison hotel chain for £76m

Acting for Aberdeen Property Investors in setting up a new limited partnership to purchase the Two Rivers Shopping Centre in Staines for £118 million and, with Barclays Pension Fund Trustees, in the expansion of the Regent Residential Limited Partnership.

Acting for Matrix Securities in connection with

• the forward funding of 3 Bunhill Row EC1 for £67 million
• the acquisition of a distribution warehouse at Brackmills, Northampton, for £33.5 million
• the acquisition of Edinburgh One, Edinburgh for £23.7 million
• the Matrix Calton Square Limited Partnership valued at £65 million
• the Matrix Moorgate limited partnership valued at £93.1million