K&L Gates has advised PATRIZIA AG on the transaction.
PATRIZIA executed the purchase of a 16 storey, 102-unit BTR residential tower development in west London, United Kingdom, for EUR 45 million (GBP 40.3 million). This transaction increased PATRIZIA’s managed assets to over EUR 12.7 billion in the residential sector. Once completed this spring, the 6,800 sqm tower, which is part of the Regency Heights development in Park Royal, will include a mix of high-quality one-, two-, and three-bedroom apartments across 16 floors on the edge of one of London’s biggest regeneration zones.
A leading partner for global real assets with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 46 billion in assets and employs over 800 professionals at 24 locations worldwide.
The K&L Gates team advising PATRIZIA was led by real estate partner Tim Webb (Picture), supported by partner Richard Dollimore and associate Emma Cooper (corporate), partner Emma Maher, associate Chris Swallow and trainee James Jago (real estate), special counsel Michael Anderson (finance), partner Kevin Greene (construction), partner Feroze Abbas and associate Rebecca Daniels (planning), and partner Giles Bavister (real estate tax).
Involved fees earner: Feroze Abbas – K&L Gates; Michael Anderson – K&L Gates; Giles Bavister – K&L Gates; Emma Cooper – K&L Gates; Rebecca Daniels – K&L Gates; Richard Dollimore – K&L Gates; Kevin Greene – K&L Gates; Emma Maher – K&L Gates; Christopher Swallow – K&L Gates; Timothy Webb – K&L Gates;
Law Firms: K&L Gates;
Clients: Patrizia Immobilien;