Addleshaw Booth & Co's role in the creation of the Northern Portfolio Limited Partnership was complicated by the fact that its client, Barlows, was simultaneously engaged in a take private deal. The firm advised acquisition vehicle Chepstow in the take private and constructed a chinese wall between this and the creation of Barlows' limited partnership with GE Capital Real Estate. Corporate finance partner Philip Goodstone and real estate partner Richard Wheeldon led on the creation of the partnership and Barlows' sale of 11 properties into it with a total value of £28m. Under normal circumstances, a circular on the proposed property sale would have been posted to Barlows' share holders. But because the sale completed after the take private became unconditional, the listing authorities did not require Barlows to follow this procedure. Nevertheless, Addleshaws had to prepare for both eventualities, thus adding a layer of complexity to the deal. Addleshaws has since been appointed as principal legal adviser to the partnership on the management and ultimate sale of the portfolio.