Clifford Chance, Teacher Stern and Gibson Dunn & Crutcher Advise on the £206m sale and private equity acquisition of Cannon Bridge.
LAWFUEL – Press Release Service – Teams lead by Iain Morpeth at Clifford Chance and Alan Samson and Wayne McArdle at Gibson Dunn & Crutcher have advised US private equity investors, Atlas Capital Group LLC, Lehman Brothers Real Estate Partners and Westbrook Partners, on their acquisition and financing of Eversmann Investments Limited, a company owning the various investment interests in Cannon Bridge in the City of London. A team lead by David Salisbury of Teacher Stern and Selby advised the vendors.
Cannon Bridge comprises two office buildings one of which is built over Cannon Bridge Railway Station. With an aggregate floor space of over 280,000 square foot, the buildings are fully let to LIFFE, Standard Bank and a number of other tenants and have an annual rent roll of circa £12m.
Iain Morpeth, assisted by Claire Manches, Anna Ransby, Ana Jordan and Sara Wain-Heapy and with Sebastian Daly on the tax side advised the consortium vehicle on its acquisition. Iain Morpeth and David Sanson also advised Atlas on their joint venture arrangements with Lehman and Atlas/Lehman on their joint venture arrangements with Westbrook Partners.
Alan Samson of Gibson Dunn & Crutcher assisted by Philip Dickinson, David Collard, Cameron Barlow and tax partner Nicholas Aleksander advised the consortium vehicle on the financing of its acquisition with Barclays Capital and also advised Westbrook Partners in their joint venture arrangements with Atlas and Lehman.
Gibson Dunn corporate partner Wayne McArdle assisted by Justin McAnaney and Matthew Brown represented Lehman Brothers in their joint venture negotiations with Atlas.
David Salisbury assisted by Edward Taylor along with the property team led by David Irwin and Clair Maddows of Teacher Stern & Selby advised the vendors and Simon Roberts and Imogen Moss of Allen & Overy, assisted by Bethan Twigge and Davina Shingadia advised Barclays Capital.