Bedell Cristin recently acted as Jersey and Guernsey counsel to Evans Randall, the privately held UK investment banking and private equity group, in its acquisition of the newly-developed Drapers Gardens building in the City of London for £242.5 million, from a joint venture including Canary Wharf Group and a subsidiary of the Morgan Stanley Real Estate Funds.
Partners Martin Paul and Tim Pearce led the Bedell Cristin team working on the transaction, with principal assistance from associate Simon Morris. SJ Berwin acted as English counsel to Evans Randall.
Bedell Cristin's work involved establishing a number of Channel Island asset holding and financing vehicles, assisting with the preparation of a plethora of funding and security documentation, and co-ordinating the Channel Island elements of the transaction.
Martin Paul, Head of Funds and Private Equity at Bedell Cristin, said: "We were delighted to have assisted Evans Randall in this latest acquisition. The transaction was complex, and required significant effort on the part of all concerned to achieve completion within a short, and fixed, timetable. I am pleased that our team rose to the challenge with typical proficiency and dedication."
Kent Gardner, Chief Executive of Evans Randall, said: "In a market where many transactions are constrained by debt and equity supply, we are delighted to have acquired such an excellent asset. We appreciate the quality, commerciality and commitment of the Bedell Cristin team assisting us with this transaction."
For further information please contact Martin Paul, Tim Pearce or Simon Morris.