Latest Deal For London Real Estate Team
National law firm Irwin Mitchell has advised Curzon Capital Partners III, a Tristan Capital sponsored fund on its acquisition and restructuring of White River Place, in St Austell, Cornwall, with its joint venture partner Ellandi.
White River Place is a town centre mixed use development in the heart of St Austell consisting of 20 retail and restaurant units, a cinema and the town’s main covered car park. It is a recently completed, award winning scheme that is BREAM rated excellent.
Simultaneous to the acquiring of White River Developments Limited, the company that owns the property, CCP III has also been able to acquire 100% of the company’s outstanding debt.
The Irwin Mitchell team of partners Lewis Myers and Jo Footitt (real estate) and Simon Tweedle (real estate finance) advised on the loan acquisition, and the due diligence of the underlying asset. Corporate associate Christopher D’Este Hoare advised in relation to the share purchase and Vanessa Greaves, associate, advised on construction issues. Irwin Mitchell also advised on a subsequent loan taken out by the owner of the shopping centre which was secured over the shopping centre.
Lewis Myers commented, “This was a very interesting deal with a number of elements and we are delighted we have brought it to fruition. It has further consolidated our expertise in the legal aspects of acquiring loans to gain investment opportunities for our clients."