Appleby, one of the world’s largest providers of offshore legal, fiduciary and administration services acted as Jersey counsel to US-based Värde Partners, a privately held investment manager specialising in alternative investments in the acquisition of the Spring Portfolio and Bizspace Operating Group.

The Project Spring portfolio includes storage, office space, workshops, industrial units, serviced offices and meeting rooms, spread across 97 multi-let sites in England and Scotland.

The Bizspace Group operating business sale was a consensual sale driven by a consortium of banks.

The Appleby team was led by corporate partner Andrew Weaver and assisted by senior associate Danny Cole.

Commenting on the acquisition, Andrew Weaver said: “We have acted for Värde Partners for a number of years and are pleased to be able to have assisted them with specialist and practical corporate advice in this transaction.”