Fladgate LLP has advised Madison International Realty (Madison) on the real estate aspects of the acquisition of a 50% ownership stake in a London office portfolio from TIAA Henderson Real Estate (TH Real Estate).
The stake in the Houndsditch Estate portfolio was purchased from TH Real Estate on behalf of its Central London Office Fund, creating a new joint venture partnership between the two firms. The £200m portfolio comprises five properties clustered in an area near Liverpool Street station.
Currently 95% let, the estate is set to benefit from its close proximity to the major transport hub of Liverpool Street, where a new Crossrail terminus will be added in 2017 to the existing rail, underground and bus stations.
Fladgate real estate partner Matthew Williams advised Madison with assistance from associate Rebecca Tavares.
Fried, Frank, Harris, Shriver & Jacobson LLP advised Madison on the joint venture aspects of the transaction.
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