Fried Frank's new London-based real estate group advised Invesco Real Estate (“Invesco”), the global real estate investment manager, on two recent retail transactions in the UK, with an aggregate transaction value of c. £85 million.
The first transaction involves the sale by one of Invesco's pan-European commingled mandates of a B&Q plc retail store, structured through the sale of shares in a Luxembourg entity, to a client of Palmer Capital.
The team also advised a UK separate account mandate, managed by Invesco, on its asset purchase of the Morrisons Colindale Superstore from a managed fund of Aberdeen Standard Investments, a global asset manager.
Darren Rogers, head of Fried Frank's European Real Estate Group, said: “I am proud to have completed the first two deals for Invesco since the launch of Fried Frank's real estate platform in London. We look forward to continuing to represent Invesco on its future transactions across asset classes, a strength within our core offering.”
The Fried Frank team in London was led by Darren Rogers, and included corporate real estate associates Devina Rana, Joy Chen, Ram Spektor, and Joseph Patchitt, and tax special counsel Will Gay.
Fried Frank recently expanded its Real Estate and Corporate Real Estate Practices in London with the arrival of partners Darren Rogers and Patrick Williams, as well as a team of associates. The group has a robust UK-focused practice, advising leading domestic and international investors and sponsors on high-profile real estate investment transactions.
Prior to joining Fried Frank, the London team advised Invesco on the majority of its headline transactions over the past 10 years.