Fladgate advises Patron Capital on the £129m sale of Arlington Business Park to CapitaLand

Fladgate has advised Patron Capital, the pan-European institutional investor focused on real-estate backed investments and their JV partner APAM, on the sale of Arlington Business Park (ABP) to Singapore’s CapitaLand for a total consideration of £129.25 million. Patron Capital and APAM acquired the business park in 2015, and Fladgate advised the joint venture on this acquisition as well as the subsequent asset management of ABP.

Located in Theale, Reading, ABP includes eleven high-quality office buildings and amenity areas. ABP had been transformed into a Grade A business park over the past few years after undergoing extensive refurbishment, installation of new facilities and various improvement projects. Some of the prestigious tenants include Amazon UK, Regus, Honda, Veritas Technologies and Willis Towers Watson.

Commenting on the transaction, real estate Partner Gideon Dabby-Joory said, “we at Fladgate have had the pleasure to work with Patron Capital and APAM on multiple transactions over the years. We are proud to be the lead legal advisor and a true partner for our client in both the acquisition and sale of the asset that delivered fantastic returns to Patron Capital’s investors.”

Executive Director at APAM Chris Taylor said, “we are pleased to have partnered with Fladgate on this important transaction. The Fladgate team provided sound advice effectively, which contributed to the smooth completion of the deal.”

Investment Director and Senior Partner at Patron Capital Daniel Weisz added, “it is always a pleasure to work with Gideon and his team, their commercially-minded approach in giving legal advice is truly invaluable.”

The Fladgate team was led by Gideon Dabby-Joory, who was assisted by a team of Partners Jamie Hamilton (corporate), Mark Harnett (planning), Eddie Powell (commercial), Mike Tremeer (employment), Elliot Lewis (construction), Charles Proctor (banking and finance), Hamilton Forrest and John Forde (tax), as well as various Associates, including Diana Mennie, Miles Crawford, Roland Brandman and Sasha Pirbhai.

Fladgate has advised on a wide range of real estate matters, many of which are headline transactions, including:

• Advising Goldacre Noé Group on the real estate aspects of an investment from Legal & General Capital into the Kao Data centre development site.
• Advising a global real estate private equity firm on the sale of a portfolio of assets in the City’s financial services district.