London - Leading global law firm Mayer Brown advised property developer Tishman Speyer on the £170m acquisition of Eland House in London from Land Securities.
Eland House is located on Bressenden Place, near to Victoria Station in south west London and is opposite the proposed Victoria Circle redevelopment scheme. Built by Land Securities in 1995, it comprises 253,000 sq ft let to HM Government and currently houses the Department for Communities and Local Government.
Tishman Speyer is a global firm of developers, owners, operators, and asset managers of first class real estate. Signature assets include New York’s Rockefeller Center and the Chrysler Center, Berlin’s Sony Center, Sao Paulo’s Torre Norte, and Ventura Corporate Towers in Rio de Janeiro.
Mayer Brown advised Tishman Speyer on the acquisition including significant pre-sale property and tax structuring and the negotiation of new banking and security documents between the purchaser group and DekaBank to fund the acquisition.
The Mayer Brown team was led by London head of Real Estate Peter Sugden assisted by Real Estate senior associate Iain Roberts, Corporate associates Sam Webster and Simon Allison, Banking & Finance partner Nigel White assisted by Banking & Finance associate Aaron McGarry and head of Tax Peter Steiner assisted by associate Stephen Green.
Peter Sugden, head of the London Real Estate group at Mayer Brown, said:"We are pleased to have been able to harness our cross practice expertise in order to advise Tishman Speyer on this prominent deal which sees them further strengthen their grade A office portfolio in London."