Macfarlanes has advised Hayfin on its acquisition of notable office building 70 St Mary Axe from Nuveen Real Estate, in partnership with Capreon.
Macfarlanes' Private Capital Real Estate team led on all aspects of the transaction, including the acquisition, joint venture, financing and tax structuring. The 21-storey asset was majority-funded by Hayfin, with support from Capreon which will also act as asset manager for the building.
This transaction follows Hayfin's recent acquisition of Gropius Passagen, Berlin's largest shopping centre alongside Pradera, a leading retail real estate investment management specialist, who will act as asset manager. Macfarlanes also advised on this transaction alongside Gleiss Lutz.
The Macfarlanes team was led by Private Capital Real Estate Partners Andrew Hughes, Laura Bretherton and Sarah Shucksmith, supported by Senior Counsel Margaret Rhodes, Senior Associates Maeve Sloan, Scott Perry, Georgia Krell, Megan Barclay, Hayley Cole, and Rebecca Rose, VAT Specialist Lucy Green and Associates Harvey Innocent, Rhiya Lall and Aanika Matin.
Andrew Hughes commented: "This acquisition of 70 St Mary Axe adds an iconic asset to Hayfin's real estate portfolio. We were absolutely delighted to support the Hayfin team on this fantastic project and to demonstrate the strength of our private capital real estate practice."