A team of attorneys in Goodwin Procter’s London office recently advised Brookfield Office Properties (“BPO”) in its 50/50 joint venture with Concord Pacific, an international residential specialist, to develop a 50-story residential property at Principal Place in Shoreditch in London. BPO will be responsible for development and project management while Concord Pacific will undertake sales and marketing activity supported by W1 Developments Inc.
The project, designed by Foster + Partners, includes 243 apartments covering 200,000 sq ft. The joint venture does not include the 600,000 sq ft. office building planned for the site, which will remain 100% owned by BPO.
Headquartered in New York City, Brookfield Office Properties owns, develops and manages premier office properties in the United States, Canada, Australia and the United Kingdom. Its portfolio is comprised of interests in 111 properties totaling 81 million square feet in the downtown cores of New York City, Washington, D.C., Houston, Los Angeles, Denver, Seattle, Toronto, Calgary Ottawa, London, Sydney, Melbourne and Perth. The company’s common shares are traded on the NYSE and TSX under the symbol BPO.
Concord Pacific, based in Vancouver, Canada, is a developer of multi-phased, master planned residential neighborhoods that are strategically designed to enhance the lifestyles of its residents. The company’s legacy as a master-planned community developer began with Concord Pacific Place on Vancouver’s False Creek waterfront.
The Goodwin team was led by partner Samantha Lake Coghlan and included support from partners Joe Conder (real estate) and Ben Eaton (tax). All are based in the firm’s London office.
Goodwin recently represented Brookfield in its 2013 acquisition of MPG Office Trust.