Ogier's Banking and Finance teams in Jersey and Luxembourg advise AEW on London property acquisition

Ogier has provided cross-jurisdictional advice to AEW in relation to the acquisition of 95 New Cavendish Street in London from LBS Properties and Baumont Real Estate Capital.

The Fitzrovia office block in London is held by a Jersey property unit trust. Ogier's Banking and Finance team in Jersey assisted AEW's lead counsel, Mishcon de Reya, on the transaction, while Ogier's Luxembourg Banking and Finance team also acted for AEW as one of the selling entities was a Luxembourg company.

Ogier's role included:

• carrying out due diligence in relation to the unit trust

• reviewing and commenting on the acquisition documents from a Jersey and Luxembourg perspective

• reviewing and negotiating Jersey release agreements

• reviewing and commenting on legal opinions issued by the Sellers' Jersey and Luxembourg legal counsel

• reviewing, commenting and, where relevant, preparing Jersey and Luxembourg corporate authorisations

• assisting with the establishment of two new Jersey private limited companies to act as trustees of the unit trust and a Jersey

• purpose trust to hold the shares of the trustees

• amending the trust instrument constituting the unit trust and assisting with the change of trustees at completion

The acquisition represents a significant redevelopment opportunity for AEW. The property, which was last refurbished in 1990, has planning consent for a repositioning programme, including the creation of an additional floor with 178 square metres of new office space and a communal roof terrace.

Partner Katrina Edge led the Ogier team in Jersey, assisted by managing associate Jennifer Cox, senior associate Lydia Gilmour and associate Kamogelo Sono. Partner Jad Nader led the Luxembourg team, assisted by counsel Caleb Holder and associate Manon Hillenbrand.

Jad Nader said: "This transaction demonstrates Ogier's real estate expertise and ability to advise across multiple jurisdictions in the same transaction. Congratulations to AEW on this development opportunity."