Ogier Jersey has acted for Segro and Moorfield Real Estate Fund II (Moorfield) in connection with their acquisition of the UK Logistics Fund for £314.7 million from Hermes Real Estate Investment Management Limited, Legal & General and LaSalle Investment Management.
The UK Logistics Fund portfolio comprises 14 prime logistic warehouse units plus one development site in 12 locations on or near main arterial roads in established distribution areas across the UK. The portfolio has a total lettable floor space of 404,100 sq m (4.35 million sq ft).
Ogier Partner, Matthew Swan, said "We were very pleased to advise SEGRO and Moorfield on this transaction which is likely to be one of the largest real estate transactions this year."
The legal team consisted of Matthew Swan, Katrina Edge, Niamh Lalor, Paul Burton, Dina El-Gazzar, Chula O'Donoghue and Lisa Floris. Ogier's Real Estate Team were responsible for establishing the joint venture vehicle and will provide ongoing administration and trustee services to the UK Logistics Fund and the structure as a whole. The team is led by Paul Lawrence, Director of the Real Estate team who was assisted by William Turner.
SEGRO is Europe's leading developer and owner of industrial space and is a Real Estate Investment Trust which is listed on the London Stock Exchange. Their portfolio consists of £5.4 billion of predominantly industrial and warehouse assets concentrated in and around major business centres and transportation hubs. The Moorfield Group is a UK real estate and related private equity fund manage and investor with some £2.5 billion of assets and geared cash under management though the Moorfield Real Estate Funds.