Legal Services Real Estate Jersey

Transcription

1 Legal Services Real Estate Jersey

2 Our go to firm in Jersey Client feedback 2016 Contents Working with Ogier 3 Real estate financing 4 Structuring, acquisitions and disposals 6 Real estate funds 7 Contact us 11

3 Legal Services Working with Ogier Our style is to truly become part of the deal team. With experience working on the largest and most complex transactions involving real estate in the UK and Europe, our knowledge of the real estate industry and familiarity with sector-specific concepts means we add real value to clients and onshore advisers. Stability and expertise are key elements in Jersey's proposition. Jersey s low tax regime, proximity to the financial markets of Europe and a sophisticated banking and professional infrastructure have contributed to its success as a base in which to establish longterm, real estate holding structures. These structures benefit from Jersey s status as a wellestablished, transparent and appropriately regulated offshore jurisdiction. While Jersey sits in the same time zone as London, we recognise the value of international markets. Our offices in BVI, Cayman, Guernsey, London, Luxembourg, Hong Kong and mainland China, and Tokyo enable face-to-face contact, a key factor in establishing strong relationships with clients. We regularly advise on: the establishment, structuring and regulation of a wide variety of real estate investment structures including companies, limited partnership and unit trusts; multi-party, joint venture and single investor structures; the sale and acquisition of real estate investment structures and vehicles; development projects (including innovative costs funding mechanisms); and on-going legal services to real estate investment structures. Best Offshore Law Firm 2016 Hedgeweek Debt & Equity-linked Deal of the Year IFLR Asia Awards Caribbean Law Firm of the Year 2016 Citywealth Offshore Law Firm of the Year 2015 The Lawyer International Legal Team of the Year 2015 STEP Structured Finance and Securitisation Deal of the Year 2015 IFLR European Awards 2015 Real Estate, Jersey 03

4 Legal Services Real estate financing Described as a 'well oiled machine' our banking and finance team advises clients on a wide range of property financial transactions. The team at Ogier is very knowledgeable and effective Legal , Banking and Finance, Jersey The team is packed full of intelligent, proactive and gifted lawyers who bring a sensible, robust and commercial approach to their work. Chambers UK, 2015 Ogier's Banking and Finance team holds a leading position in the Jersey market and has considerable experience advising on large scale complex crossborder and local property financing transactions, with our offices in BVI, Guernsey, Luxembourg and Cayman. The team is consistently recognised by industry commentators, with several partners ranked as leading individuals by Legal 500, Chambers and IFLR. We regularly advise on: property finance acting for both lenders and borrowers development finance acquisition finance secured lending transactions Representative transactions Ogier has acted for: An international lender in connection with a 437,250,000 facility to fund the acquisition of a large portfolio of UK real estate. A large US based insurance company in connection with a 321,740,000 facility to refinance the acquisition costs of a UK property portfolio. Senior and mezzanine lenders in connection with a 260,000,000 facility to fund the acquisition of a UK commercial real estate portfolio. A European based lender in connection with a 109,578,750 facility to finance the acquisition costs of a UK property portfolio. 04 Real Estate, Jersey

5 Katrina Edge Partner, Corporate and Finance, Head of Banking in Jersey Fast, effective and commercial. Chambers UK, Jersey, Corporate and Finance, 2017 Real Estate, Jersey 05

6 Legal Services Structuring, acquisitions and disposals The types of Jersey vehicles we typically see used for property holding structures are Jersey property unit trusts (JPUTs), limited partnerships and companies. They have some of the strongest, most technically proficient lawyers. Chambers UK 2016, Corporate & Finance, Jersey The client service that I have recived from Ogier has been outstanding. I have been really impressed with the quality of their legal advice both on a technical and commercial basis. Client feedback Very user-friendly with real strength in depth Chambers UK 2016 Advantages for those using Jersey vehicles include the ability to sell interests in the real estate holding structure, free of stamp duty or stamp duty land tax charges (SDLT). A well-structured acquisition can reap rewards several years down the line on an exit, with SDLT savings being a great attraction to potential bidders. We regularly advise on: the establishment, structuring and regulation of a wide variety of real estate investment structures including companies, limited partnership and unit trusts multi-party, joint venture and single investor structures the sale and acquisition of real estate investment structures and vehicles development projects (including innovative costs funding mechanisms) on-going legal services to real estate investment structures Representative transactions Ogier has acted for: Moorfield Real Estate Fund and Moorfield Real Estate Fund II in connection with the sale of a diversified real estate investment portfolio to Lone Star Real Estate Fund III for approximately 1 billion. intu Properties Plc on its purchase of a portfolio of two shopping centres and a retail park from Westfield for 867m. Northwood Investors in connection with the acquisition of more than 7.1 million square feet of office and industrial properties located throughout the regional markets of the UK for 635m from Highcross. Cathay Life on the acquisition of the Walbrook Building from Minerva for 575m. Brookfield Office Properties on its $829m purchase of Hammerson s London office portfolio. LCR on the sale of its interest in King's Cross Central, one of Europe's most important city centre regeneration projects. 06 Real Estate, Jersey

7 Legal Services Real estate funds Jersey has developed specific expertise in relation to institutional and professional investor funds. We have significant experience in relation to complex asset-holding structures including real estate and other alternative investment funds. Ogier is best known for: Giving advice on the full spectrum of real estate funds with commercially focussed tax and regulatory advice, providing a fully integrated and holistic approach. Advising on the establishment of and investment in real estate funds, guiding institutional and professional investors on legal, regulatory and jurisdictional issues in connection with their fund investments. Representing clients whose real estate investments are driven by business strategy; clients who hold real estate as a core asset or as alternative investments; and clients for whom real estate is a significant factor in their business operations. Representative transactions Ogier has acted for: Knight Frank in connection with the launch of a Jersey Expert Fund with a target size of 500m to invest in UK real estate. Paloma Capital LLP in connection with the launch of a Jersey Private Placement Fund with a target size of 150m to invest in UK real estate. Target Healthcare in relation to the conversion of an unregulated REIT listed on AIM to a Jersey regulated listed fund to comply with AIFMD. They understand what we need and invest in the relationship so we get the right level of service. Chambers UK 2016, Investment Funds, Jersey They were very responsive, they worked well under pressure and were there supporting us throughout what was essentially a 24/7 deal. Client feedback Real Estate, Jersey 07

8 Cheesegrater Ogier advised CC Land on its 1.15 billion acquisition of London s iconic Cheesegrater building. The amount of money being invested demonstrates that the London property market is still very buoyant, and that international investors see London property as very desirable. Raulin Amy, Partner Alongside Berwin Leighton Paisner as Lead Counsel, we advised on the purchase of the Leadenhall Building in March 2017 in what is thought to be the second-largest single asset sale in the city s history. We advised on the Jersey and BVI law aspects of the purchase, thought to be the second biggest deal after the HSBC tower deal in bn The value of the acquisition 08 Real Estate, Jersey

9 Liver Building Ogier advised Corestate Capital on the purchase of the iconic Liver Building. Transactions involving a genuine cultural icon are rare and we were delighted to support Corestate. Bryon Rees, Partner The transaction was the first time that the building has changed hands since it was constructed in The Liver Building is one of the most recognisable in Britain and is the former headquarters of the Royal Liver Assurance Limited. 48mThe value of the acquisition Real Estate, Jersey 09

10 Richard Daggett Partner, Corporate and Finance He is technically excellent, a real pleasure to deal with and he takes away the stress. If there is a problem he takes it away and solves it. Client feedback 10 Real Estate, Jersey

11 Legal Services Contact us Katrina Edge Partner T M katrina.edge@ogier.com Richard Daggett Partner T M richard.daggett@ogier.com Bruce MacNeil Partner T M bruce.macneil@ogier.com Niamh Lalor Partner T M niamh.lalor@ogier.com Alexander Curry Managing Associate T M alexander.curry@ogier.com Matthew Gilley Managing Associate T matthew.gilley@ogier.com Alan Stirling Senior Associate T alan.stirling@ogier.com Real Estate, Jersey 11

12 Legal and Corporate Services British Virgin Islands Cayman Islands Guernsey Hong Kong Jersey London Luxembourg Shanghai Tokyo Ogier provides practical advice on British Virgin Islands, Cayman Islands, Guernsey, Jersey and Luxembourg law through our global network of offices. Ours is the only firm to advise on these five laws. We regularly win awards for the quality of our client service, our work and our people. Ogier Global is Ogier s corporate administration business. Ogier Global (BVI) Limited and its subsidiaries are licensed and regulated by the British Virgin Islands Financial Services Commission. Ogier Global (Cayman) Limited and its subsidiaries are regulated by the Cayman Islands Monetary Authority. Ogier Global (Guernsey) Limited and its subsidiaries are licensed and regulated by the Guernsey Financial Services Commission. Registration no Ogier Global (Jersey) Limited and its subsidiaries are regulated by the Jersey Financial Services Commission. Regulatory information can be found at ogier.com ogier.com