Mishcon de Reya and Orrick Herrington & Sutcliffe have advised on the off-market sale of the O2 Leisure and Retail Scheme on London’s Finchley Road.
Matterhorn Palos Partnership (MPP), a joint venture between Matterhorn Capital and Palos Investments, has sold the O2 to Land Securities Plc for £125.9m.
Mishcon real estate partner Daniel Lipman led the team acting for MPP, having last year advised the joint venture on its £92.5m acquisition of the scheme.
On the corporate side MPP turned to Orrick, which was led by corporate partner Dean Poster.
Poster quit the firm to join Mishcon immediately following completion of the deal.
An Eversheds team featuring real estate partners Gurjit Atwal and David Jones advised Land Securities on the acquisition.
Lipman said the size of the deal was a good indication of improvements in the property market.
“It’s a good example of those clients who had the confidence to buy early last year and are now reaping the benefits,” he said.