Linklaters advises Brookfield on Sale of 50% Stake in Principal Place
Linklaters has advised Brookfield Property Partners on the successful sale of a 50% stake in the Principal Place development to the Italian asset management company Antirion SGR. The deal is based on a total valuation for the office and retail portion of the development of £763 million.
The 621,000 sq. ft. Principal Place office building is situated on the border of the City of London and Shoreditch and will be occupied by Amazon UK. It is part of a mixed use complex which will also feature a 50- storey residential tower, 20,000 sq ft of retail and a half-acre central piazza.
Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management, a leading global alternative asset manager with approximately $250 billion in assets under management.
The Linklaters team was led by real estate Partner Simon Price, supported by Associates Alex Lehtinen, Kathryn Griffiths and Hannah Webb. Partner Elizabeth Conway was responsible for the tax elements of the deal supported by Associate Rosie Upstill. Further support was given by Partner Nicolas Gauzes, Managing Associates Maxime Bertomeu-Savalle, Remy Bonneau, Aurelie Clementz and Associate Anne Mauske from the Luxembourg office and Associate Mariasofia Ricci in Milan.