Olswang-Kanters tie-up bears fruit with £175m property deal finalised

Olswang has started reaping the benefits of its tie-up with West End property boutique Kanter Jules, closing its first major deal for Kanters client Reit Asset Management.

Olswang has gained Reit Asset Management as a client following its takeover of Kanters in May this year. The firm has advised the group on its acquisition of a £175m portfolio of 22 properties through Teesland Asset Management and a £45m acquisition of an Iron Mountain factory from Blackstone Group. The Iron Mountain facility is separate to the one destroyed in the blaze that saw several City firms lose archived files.

Several firms, including Jones Day, Shepherd & Wedderburn, SJ Berwin and Trowers & Hamlins, advised Teesland's clients on the sale, while DLA Piper advised Blackstone.

Olswang worked with Maclay Murray & Spens property partner Jennifer Johnson on three Scottish properties, which were part of the Teesland portfolio.

Kanters' former managing partner Simon Kanter led the Olswang team on both acquisitions. Olswang real estate head Tim Westhead, corporate partner Michele Michaelson, banking partner Moni Mannings and tax partner Graham Chase were also involved.

Kanter said: "This transaction was a blessing in disguise. It was quite complicated, so it was a real baptism of fire in that it encouraged me to integrate and work closely with my new Olswang colleagues.

"All our Kanter Jules clients have moved to Olswang, which bears out the rationale for the move. Of course it's early days yet, but it's positive so far."