Addleshaw Goddard closes two flagship deals in London
Addleshaw Goddard has completed two flagship transactions, one of which represents the largest in the capital to date.
First, the firm advised long-standing client University Partnerships Programme (UPP), the UK’s largest provider of on-campus student accommodation, on its £140m partnership deal with the University of London to redevelop the Bloomsbury residential campus with a new 1,200-room facility.
The transaction creates a long-term partnership between the university and UPP, which was funded with £113.8m of bond finance by Pension Insurance Corporation (PIC) and £26.9m of sub-debt and equity provided by UPP and its investors, with the university retaining an equity stake in the project as well.
The Addleshaw Goddard team was led by real-estate partner Adrian Collins and included Andy McVeigh, Steve Mackie, Cathy Fearnhead, Marc Field and Sam Cary.
The University of London was advised by Pinsent Masons and PIC was advised by Wragge Lawrence Graham & Co.
Addleshaw Goddard closed another deal on the same day, acting for the Royal College of Music (RCM) on a £44m transaction to redevelop its Shepherds Bush student accommodation.
This transaction was another long-term partnership with CLV (represented by Osborne Clarke) and funded by M G (represented by CMS Cameron McKenna).
The RCM deal was again led by Addleshaw Goddard’s Adrian Collins along with construction partner Nancy McGuire and managing associate Cathy Fearnhead, assisted by Steve Ormand and Zulon Begum.
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