Cove UK continues expansion of UK holiday park portfolio
August 18, 2022
Fried Frank advised Cove UK on the acquisition of five new UK parks, including the Argyll Holidays portfolio and Springwood Holiday Park in Scotland; The Elms Retirement Park, Lincoln; Willowbrook Park, Lancing, West Sussex; and Killarney Park, Nottinghamshire.
The transaction is the ninth UK acquisition on which Fried Frank has represented Cove UK, which continues the rapid expansion of its UK portfolio and maintains a healthy pipeline of acquisitions to come.
Each acquisition was financed with debt from Wells Fargo, with Fried Frank advising Cove UK as borrower.
“We are excited and proud to expand our portfolio with these stunning parks,” said Mark Seaton, Cove UK Managing Director. “When acquiring from family-owned businesses, Cove UK prides itself on our level of empathy and sensitivity with the sellers, and we see Fried Frank as a key advisor in that process.”
“Fried Frank is delighted to support these signature transactions in this increasingly active and innovative sub-sector of the living asset class,” added Darren Rogers, partner and head of European real estate.
The Fried Frank team was led by corporate real estate partner Darren Rogers and corporate partner Jons F. Lehmann, and supported by corporate real estate associates Devina Rana, Joy Chen and Freya Dear; corporate associates Jacqueline Punjabi, Ryan Jenkinson, Zac Mellor-Clark and Ollie Burrows; and tax associates Richard Pilgrim and Thomas Bramall.
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