Nabarro has advised longstanding client Mitsui Fudosan UK with its development partner Stanhope on the acquisition of One Angel Court in EC2 from US financial services organisation TIAA-CREF.
The 200,000ft² (18,580m²) 21-storey office tower has planning permission for extensive redevelopment.
The acquisition will strengthen Mitsui Fudosan and Stanhope’s portfolio of prime commercial properties and projects in central London.
The Nabarro team, led by real-estate and client relationship partner Kevin Stimpson, included funds and indirect real-estate partner Chris Luck, real-estate dispute resolution partner Nick Lloyd and fellow real-estate partner Tanya Holt, supported by senior associates Steven Billingham, Sergio Vella and Phil Anderson and associates Katherine Frankham, Robert Mann, Ariel Eder and Laura Jordan.
Nabarro also advised Mitsui Fudosan and Stanhope on two major acquisitions currently under development: 8-10 Moorgate, a £90m eight-storey building of prime office and complementary retail and space, and the £100m speculative office development at 70 Mark Lane in the City.
Linklaters acted for TIAA-CREF.