Fladgate advises on high profile acquisitions for Patron Capital

Fladgate LLP has advised Patron Capital IV LP (Patron) on two high profile real estate investments:

  • The c£75m headline acquisition, by a joint venture between Patron Capital and APAM Ltd, of the Arlington Business Park in Theale, Reading from the Arlington Business Parks Partnership (ABPP). The Arlington Business Park is considered to be one of the Thames Valley’s most established business parks and includes ten office buildings let to a diverse occupier base, including Wrigley, Wolseley, Hewlett Packard and Vodafone, amongst others.
  • The over £30m acquisition, by a joint venture between Patron Capital and Oxlo, of “The Mint”, a highly specified office building in Leeds, from local Leeds developer Deltalord.

Commenting on the acquisitions, Daniel Weisz, Investment Director of Patron Capital Advisers LLP, said: “Fladgate excelled at understanding all aspects of the transactions and were instrumental in us completing the acquisitions within a demanding timetable”.

Chris Taylor, Director at APAM added: “We were pleased to have had Fladgate on the team and appreciated both the excellent legal advice and the invaluable commercial support they provided throughout”.

The Fladgate team on Arlington was led by real estate partners Gideon Dabby-Joory and Nick Mumby, assisted by partners Jeremy Whiteson (corporate), Charles Proctor (banking), senior associates Gavin Whitney (real estate), Rebecca Tavares (real estate), Susanna Weatherstone (planning) and Chris Farrell (construction), together with real estate associates Adam Baker, Roland Brandman and corporate associate Sophie Burke.

The Fladgate team on The Mint was led by real estate partner Gideon Dabby-Joory, assisted by partners Gary Smith (banking), Eddie Powell (commercial), senior associates Rebecca Tavares (real estate), Chris Farrell (construction) and corporate associate David Baverstock.

For Arlington, ABPP (the seller) was represented by Jones Day with Wells Fargo (the senior debt funder) represented by Simmons & Simmons. For The Mint, the seller was represented by Blacks Solicitors with Agfe (the senior debt funder) being represented by Mills & Reeve.

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