Simpson Thacher is representing Blackstone Real Estate Partners in connection with a joint venture in which it is acquiring a 50% interest from The British Land Company plc in the Broadgate Estate, a 30-acre, 4.5 million square foot campus of 16 office buildings in the City of London. The Broadgate Estate is financed by a securitization which has £1.973 million outstanding with a weighted average maturity of approximately 16 years. In addition, in connection with this transaction, further financing from British Land of £209 million was obtained. Closing of the transaction is subject to shareholder approval and EU merger control clearance.
The Simpson Thacher team includes Adam Signy, Farhad Karim, Stephen Short, David Vann, Jeanne Annarumma, Meredith Jones, Joyce Xu, Daniel Bae, Kiran Bhullar, Clare Cottle, Andrew Dempster, Brian Ferry, Bryan Gordon, Nate Hagerman, Elizabeth Jin, Helen Kim, Seojung Park, Marcela Robledo, Peter Walgren and paralegals Colin Brodie and Louis Fitzgerald.