Mayer Brown advises Brookfield on acquisition of Gazeley
11 June 2013
London - Leading global law firm Mayer Brown has advised Brookfield Property Partners, L.P. on the acquisition of EZW Gazeley Limited (“Gazeley”), a specialist developer of large scale logistics warehouses and distribution parks in key strategic locations across the UK, Western Europe and China.
Gazeley was acquired by Brookfield from Economic Zones World, a global developer and part of the Dubai World group.
This high quality acquisition encompasses over five and a half million square feet of logistics warehouses and distribution parks as well as a substantial land bank and various land option agreements.
The acquisition of Gazeley provides Brookfield exposure to high quality assets, which offer potential growth and value enhancement. Brookfield will seek to build upon Gazeley’s extensive European footprint while capitalizing on its experience and growing presence in the Middle East and China. Brookfield’s capital base, property operating experience and global platform will transform Gazeley from a developer of logistics warehouses to a full-service logistics asset manager, allowing Gazeley to offer a wider range of services to its customers.
Jeremy Kenley, Corporate partner, said: “We are seeing growing interest in 2013 for logistics businesses as a real estate investment asset class. Growing online sales has increased the amount of distribution and storage warehouse space required so this may lead to further mergers and acquisitions in the logistics and warehousing industry. Mayer Brown was delighted to have assisted Brookfield in this transaction.”
The Mayer Brown team was led by Corporate partner Jeremy Kenley in London and included Corporate, Real Estate, Tax, Competition, Employment, Environment, Banking & Finance, Insurance, IP/IT, Regulatory and Litigation lawyers in London, France, Germany, Belgium, Hong Kong and China.