Morrison & Foerster acted as international counsel to leading international real estate investment manager Savills Investment Management in connection with the formation of a real estate fund with target capital commitments of £360 million (US$500 million) that will invest in the UK retail parks sector. Backed by cornerstone Asia investors, Straits Real Estate and The Land Managers, the new fund will seek to acquire retail park assets with relatively low rents, low vacancy rates, strong tenants, and high dependable income.
The MoFo team was led by Singapore Funds partner Jason Nelms, together with Hong Kong Funds associates Marcus Sik Kin To and Brian Ho. The team was supported by London Real Estate partner Oliver s'Jacob, Singapore Corporate partner Paul Davis, and Hong Kong trainee solicitors Kenneth Lee and Patricia Lu.
Read more about the transaction in Savills Investment Management's press release.