White & Case LLP has advised Oaktree Capital Management, a leading global alternative investment management firm, on its sale of the SACO property portfolio, one of the UK’s leading providers of serviced apartments with an extensive network of properties around the world, to Brookfield Asset Management.
The deal includes all the existing real estate and development pipeline as well as its online operating platform. These include 39 operational assets in the UK and one in Amsterdam, nine of which are freehold, with the remainder leased.
Additionally, there are more than 900 rooms in SACO’s development pipeline that will be owned freehold and branded as Locke aparthotels once they are completed. SACO’s online platform hosts a further 900 apartments across the UK, as well 30,000 units globally.
The White & Case team in London which advised on the transaction was led by partner Richard Jones (Picture) and included partners James Dodsworth, James Johnson and Michael Wistow, and associates James Pullen, Kasit Rochanakorn, Hillary Roberts, Helen Levendi, Paul Harrington, David Persaud, Kate Russell and Victoria Sharp.
Involved fees earner: Richard Jones – White & Case; James Pullen – White & Case; Kasit Rochanakorn – White & Case; Hillary Roberts – White & Case; James Dodsworth – White & Case; James Johnson – White & Case; David Persaud – White & Case; Victoria Sharp – White & Case; Michael Wistow – White & Case; Paul Harrington – White & Case; Helen Levendi – White & Case; Kate Russell – White & Case;
Law Firms: White & Case;
Clients: Oaktree Capital Management;