Guernsey: Carey Olsen Advises On The Launch Of Real Estate Investment Trust On The LSE
Last Updated: 3 December 2015

Carey Olsen has advised on the successful launch and admission to trading of Regional REIT Limited, a Guernsey real estate investment trust (REIT), on the Main Market of the London Stock Exchange.

Regional REIT Limited is managed by Toscafund Asset Management LLP, with London & Scottish Investments Limited managing the property portfolio. It merges two existing funds, and targets investments in commercial property in major regional centres outside London.

Carey Olsen partner and head of the Guernsey corporate group Graham Hall, senior associate Annette Alexander and associate Alexandria du Jardin advised on all Guernsey aspects of the listing alongside Macfarlanes LLP who acted as UK Counsel.

Peel Hunt acted as sole sponsor, financial adviser, bookrunner and corporate broker. The REIT has a market capitalisation of approximately £274.2 million.

Advocate Hall said: "This was a very successful transaction for the company having received strong support from both existing and new shareholders.

"The decision to structure the fund as a Guernsey REIT is an endorsement of both the regulatory system and the expertise available here in Guernsey."

Carey Olsen remains the leading offshore legal adviser to LSE-listed clients according to the most recent Corporate Advisers Rankings Guide (August, 2015).

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