Mayer Brown advises BerlinHyp on the sale of Peterborough Court, Fleet Street
14 August 2012
London - Leading global law firm Mayer Brown has advised Berlin-Hannoversche Hypothekenbank (BerlinHyp) on a restructuring culminating in the sale of Peterborough Court and Daniel House, Fleet Street, which houses Goldman Sachs' London headquarters.
The sale of the 370,000 sq ft office building, which is one of the most high-profile single-asset disposals this year, comes after the property was placed in the hands of receivers in September 2010.
As part of the restructuring, the property owner implemented parallel schemes of arrangement in England and the British Virgin Islands to enable a debt-free vehicle to be sold to the purchaser.
Devi Shah, joint head of the Restructuring, Bankruptcy and Insolvency practice, led the Mayer Brown team in London, with Finance Partner Nigel White and Real Estate Partner Andrew Hepner, working alongside Restructuring Partner Rainer Markfort, based in Düsseldorf. They were assisted by Restructuring Counsel Alex Wood, German Finance Counsel Alexa Metzger, Restructuring Senior Associate Jessica Walker, Finance Associates Lucy Hall and Pradeep Madavan and Real Estate Associate Kerry Middlemiss.
Devi Shah, joint head of the Restructuring, Bankruptcy and Insolvency practice, said: "This transaction is one of the major investment deals in London this year so we are delighted that the three-year project involving this landmark building has completed successfully and that we have assisted our client in completing this important transaction."