Walkers' Jersey office is delighted to have provided Jersey legal advice to Apache Capital Partners in connection with the acquisition and disposal of two major student accommodation schemes in central London.

Walkers initially advised on the sale by Apache Capital Partners of their interest in the 235-bed Paris Gardens student accommodation development on London's South Bank to LetterOne for £61 million. LetterOne, the investment vehicle co-founded by billionaire Mikhail Fridman and fellow Russian entrepreneurs German Khan and Alexei Kuzmichev, is making a significant push into the student housing market.

In addition, Walkers also advised Apache Capital Partners on their acquisition of McLaren Property's interest in the 456-bed student accommodation development at 12-25 Paul Street in Shoreditch, London for £108.6 million.

Richard Jackson, founder and partner of Apache Capital Partners, commented: “Apache has enjoyed a successful partnership with McLaren on Paul Street and Paris Gardens which have furthered our strategy of investing in social infrastructure projects. We are delighted we were able to secure Paul Street to add to our investment portfolio.”

The Walkers team was led by Jonathan Heaney (Partner) and Mark Crichton (Associate) and was assisted by Lauren Stott.