Hogan Lovells advises Hermes Real Estate Investment Management on ownership swap

Hogan Lovells has advised Hermes Real Estate Investment Management Ltd (HREIML) on a £337m ownership swap between thecentre:mk, Milton Keynes, and the Friary Centre, Guildford, with M&G Real Estate.

HREIML acquired M&G Real Estate’s 36 per cent stake in thecentre:mk, bringing the prime retail asset fully under HREIML’s control. M&G Real Estate assumes sole ownership of the Friary Centre, and associated holdings in North Street, Guildford. HREIML contributed a balancing payment as part of the deal.

The Hogan Lovells team advising HREIML was led by London funds partner James McDonald and real-estate partner Gill McGreevy, supported by senior associate Amelia Stawpert and trainee Hannah Kaye in funds, real-estate senior associates Stella Bliss and Thom Leonard, tax partner Philip Gershuny and senior associate Aaron Burchell in tax, and construction partner Gillian Thomas.