HGR Liquidating Trust’s £380 Million Sale Of 25 Cabot Square, Canary Wharf

Bryan Cave Leighton Paisner LLP, Mayer Brown and K&L Gates advised on the deal.

HGR Liquidating Trust (formerly Hines Global REIT) sold two Luxembourg companies owning the 17-storey office building at 25 Cabot Square in Canary Wharf, London E14 to Link Real Estate Investment Trust for £380 million. Link, a Hong Kong-listed REIT managed by Link Asset Management Limited, was advised by Mayer Brown. The sale has been agreed and is expected to complete on 25 August 2020.

This is the largest single asset office deal in London this year.
The building, known as “The Cabot”, is Morgan Stanley’s European headquarters in London and comprises 481,605-square-feet of recently refurbished office space. Designed by Skidmore, Owings & Merrill, the Class A property was completed in 1991 as part of the first phase of the Canary Wharf development.

The multi-disciplinary BCLP team acting for Global REIT Cabot Square Holdco S.à r.l. (the seller) was led by Partners Emma Le Wita (Picture), Adam Bogdanor and Chris de Pury, working with Associate Director Laura Patao-Caminas, Associate Elizabeth Wong and Trainee Solicitor Oliver Cross (Corporate), Associate Daniel Burnand (Real Estate) and Partner Elizabeth Bradley, Senior Associate Andy West and Associate George Croft (Tax).

HGR was assisted by the London capital markets team of Cushman & Wakefield. K&L Gates (Emma Maher) assisted HGR on US legal matters.

The Mayer Brown team acting for Link was led by UK head of Real Estate, Chris Harvey and included: Real Estate — partners Andrew Hepner and Anita Jones, counsel Ross Berridge and Robert Patterson, senior associates Erin Brayshaw, Tim Collier, Annabel Ersser, Danielle Gerber and Sarah Rochelle and associate Hollie Norman (all London); Litigation & Dispute Resolution — partners Jonathan Olson-Welsh and Kwadwo Sarkodie, senior associate Sean Hummerstone and associate Danishe Arshad (all London); Corporate & Securities — partners Jeckle Chiu (Hong Kong) and Neil Evans (London), senior associates Alastair Dolman and Josh Reynolds and associates Zayn Khan (all London) and Andrew Koon (Hong Kong); Restructuring — senior associate Nicola Collins; Planning & Environment — partner Michael Hutchinson and counsel Tim Baines; Employment & Benefits — partner Chris Fisher and associate Francesca Ingham; International Trade — partner Jason Hungerford and senior associate Paul Whitfield-Jones; Tax Transactions & Consulting — partner Simon Rose, counsel Kitty Swanson and senior associate Matt O’Brien; and Intellectual Property — partner Mark Prinsley (all London).

Involved fees earner: Adam Bogdanor – Bryan Cave Leighton Paisner; Elizabeth Bradley – Bryan Cave Leighton Paisner; Daniel Burnand – Bryan Cave Leighton Paisner; George Croft – Bryan Cave Leighton Paisner; Chris de Pury – Bryan Cave Leighton Paisner; Emma Le Wita – Bryan Cave Leighton Paisner; Laura Patao-Caminas – Bryan Cave Leighton Paisner; Andy West – Bryan Cave Leighton Paisner; Elizabeth Wong – Bryan Cave Leighton Paisner; Tim Baines – Mayer Brown; Ross Berridge – Mayer Brown; Erin Brayshaw – Mayer Brown; Jeckle Chiu – Mayer Brown; Tim Collier – Mayer Brown; Nicola Collins – Mayer Brown; Alastair Dolman – Mayer Brown; Annabel Ersser – Mayer Brown; Neil Evans – Mayer Brown; Chris Fisher – Mayer Brown; Danielle Gerber – Mayer Brown; Chris Harvey – Mayer Brown; Andrew Hepner – Mayer Brown; Sean Hummerstone – Mayer Brown; Jason Hungerford – Mayer Brown; Michael Hutchinson – Mayer Brown; Francesca Ingham – Mayer Brown; Anita Jones – Mayer Brown; Zayn Khan – Mayer Brown; Andrew Koon – Mayer Brown; Hollie Norman – Mayer Brown; Matthew O’Brien – Mayer Brown; Jonathan Olson-Welsh – Mayer Brown; Robert Patterson – Mayer Brown; Mark Prinsley – Mayer Brown; Joshua Reynolds – Mayer Brown; Sarah Rochelle – Mayer Brown; Simon Rose – Mayer Brown; Kwadwo Sarkodie – Mayer Brown; Kitty Swanson – Mayer Brown; Paul Whitfield-Jones – Mayer Brown;

Law Firms: Bryan Cave Leighton Paisner; Mayer Brown;

Clients: HGR Liquidating Trust; Link Real Estate Investment Trust (Link REIT);