LONDON – 1, May 2017 – A multi-disciplinary, multi-office team at global law firm Greenberg Traurig, LLP represented the seller on the sale of Cannon Place in what is the largest such transaction in London to complete to date in 2017.
Deka Immobilien acquired, off market, the entity that owns Cannon Place, a landmark development by Hines, for £485 million.
“Post Brexit, this transaction is a significant sign that German institutions want to go long on London real estate,” said Steven Cowins, a shareholder in Greenberg Traurig’s private equity, real estate sector practice in London. Cowins led the law firm’s team that represented the seller in the transaction. “I am proud to say that it is the largest office deal of the year to complete to date and this is exactly the kind of deal that the Greenberg Traurig team in London, and beyond, is set up to do.”
The unique, award-winning Cannon Place sits atop Cannon Street Station in London. The complex development has 418,198 sq. ft. of Grade A office, retail, and ancillary space. It is reported to be at full occupancy.
The Greenberg Traurig team was led from London by Cowins and Daniel M. Woolston (Associate, Corporate) with assistance by Gary Bellingham (Shareholder, Corporate), Clive Jones (Shareholder, Tax), Jessica Ganagasegaran (Associate, Tax), Lacy J. Gratton (Associate, London, Corporate), and Kathryn Anne Phillips (Associate, London, Corporate), among others. Also assisting were team members in Germany, including Alexandru Petrescu (Associate, Berlin, Corporate) and Kati Beckmann (Associate, Berlin, Corporate), and the U.S., including Justin E. Mann (Associate, Delaware, Corporate). Hines is a long-time client of Greenberg Traurig in the United States and “we are delighted to be extending that relationship in Europe,” Cowins said.
Greenberg Traurig’s Private Equity Practice
Greenberg Traurig’s Private Equity Practice utilizes the collective experience and resources of the firm to help clients achieve their goals. An experienced team of private equity attorneys leverages the firm’s unique geographic platform and extensive range of practice and industry capabilities across the firm, which distinguishes Greenberg Traurig from other large firms. Learn more about Greenberg Traurig’s Private Equity Practice.
About Greenberg Traurig's Real Estate Practice
The Greenberg Traurig Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive legal solutions for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of more than 300 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, and Latin America. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP (GTLaw) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia and the Middle East and is celebrating its 50th anniversary. One firm worldwide, GTLaw has been recognized for its philanthropic giving, was named the second largest firm in the U.S. by Law360 in 2016, and among the Top 20 on the 2016 Am Law Global 100. Web: www.gtlaw.com Twitter: @GT_Law.
Deka Immobilien acquired, off market, the entity that owns Cannon Place, a landmark development by Hines, for £485 million.
“Post Brexit, this transaction is a significant sign that German institutions want to go long on London real estate,” said Steven Cowins, a shareholder in Greenberg Traurig’s private equity, real estate sector practice in London. Cowins led the law firm’s team that represented the seller in the transaction. “I am proud to say that it is the largest office deal of the year to complete to date and this is exactly the kind of deal that the Greenberg Traurig team in London, and beyond, is set up to do.”
The unique, award-winning Cannon Place sits atop Cannon Street Station in London. The complex development has 418,198 sq. ft. of Grade A office, retail, and ancillary space. It is reported to be at full occupancy.
The Greenberg Traurig team was led from London by Cowins and Daniel M. Woolston (Associate, Corporate) with assistance by Gary Bellingham (Shareholder, Corporate), Clive Jones (Shareholder, Tax), Jessica Ganagasegaran (Associate, Tax), Lacy J. Gratton (Associate, London, Corporate), and Kathryn Anne Phillips (Associate, London, Corporate), among others. Also assisting were team members in Germany, including Alexandru Petrescu (Associate, Berlin, Corporate) and Kati Beckmann (Associate, Berlin, Corporate), and the U.S., including Justin E. Mann (Associate, Delaware, Corporate). Hines is a long-time client of Greenberg Traurig in the United States and “we are delighted to be extending that relationship in Europe,” Cowins said.
Greenberg Traurig’s Private Equity Practice
Greenberg Traurig’s Private Equity Practice utilizes the collective experience and resources of the firm to help clients achieve their goals. An experienced team of private equity attorneys leverages the firm’s unique geographic platform and extensive range of practice and industry capabilities across the firm, which distinguishes Greenberg Traurig from other large firms. Learn more about Greenberg Traurig’s Private Equity Practice.
About Greenberg Traurig's Real Estate Practice
The Greenberg Traurig Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive legal solutions for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of more than 300 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, and Latin America. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP (GTLaw) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia and the Middle East and is celebrating its 50th anniversary. One firm worldwide, GTLaw has been recognized for its philanthropic giving, was named the second largest firm in the U.S. by Law360 in 2016, and among the Top 20 on the 2016 Am Law Global 100. Web: www.gtlaw.com Twitter: @GT_Law.