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Ashurst, DLA Piper and Mayer Brown have advised on the £264m sale of Goldman Sachs’ European headquarters on London’s Fleet Street.
The sale of Peterborough Court and Daniel House, a 370,000 sq ft office building leased to the investment bank, comes after the property was placed in the hands of receiver Jones Lang LaSalle (JLL) in September 2010.
DLA Piper, led by London restructuring head Michael Fiddy and restructuring partner Simon Neilson-Clark, advised JLL after the real estate and money-management company was instructed to sell the buildings in order to recoup millions of pounds in unpaid debt.
Mayer Brown advised the senior lender to the property, German real estate financier BerlinHyp, working out of its London and Düsseldorf offices. The London team was led by Devi Shah, joint head of restructuring, bankruptcy and insolvency, along with finance partner Nigel White and real estate partner Andrew Hepner. The team worked alongside Düsseldorf-based restructuring partner Rainer Markfort.
It is understood that the sale was completed to Fleet Street Investments II, a Cayman Islands-registered company reportedly controlled by members of the Qatari royal family. The purchasers are understood to have been advised by Ashurst.
Background to this deal
Partners at the London and German offices of Mayer Brown have advised BerlinHyp for a number of years. DLA Piper, meanwhile, has advised Jones Lang LaSalle on a number of acquisitions, including that of Corporate Realty Advisors, Klatskin Associates and The Standard Group.