Real estate experts from Wragge & Co have advised a US private equity group on a major acquisition.
The Wragge & Co team advised Harbert Management Corporation on the acquisition of four industrial estates from industrial property owner and developer Segro for £204.5 million.
The latest acquisition comprises four multi-let industrial estates: Heywood Distribution Park in Rochdale, Trafford Park in Manchester and Kings Norton Business Centre and Meteor Park in Birmingham.
Real estate investment partner John Burns led a cross-firm team of experts including construction partner Richard Green, planning partner Andrew Thomas, corporate partner Jeremy Millington, tax partner Kevin Lowe and property finance partner Colin Hurt.
This is the second major deal between Harbert and Segro that Wragge & Co has advised on this year. Harbert also acquired IQ Farnborough Business Park from Segro for £79.7 million in April.
The park was home to the Royal Air Force before being converted into a mixed-use business park by Segro.
Mr Burns said: “We have a great deal of experience advising large funds and corporations investing in the UK property market. It is great to have been involved in making both of these major deals happen.”