Goodwin’s London Real Estate team advised Tunstall Real Estate Asset Management on its 50/50 joint venture with Starwood Capital Group to acquire Pinnacle Group. Tunstall and Starwood Capital have identified a significant opportunity to leverage the existing Pinnacle platform by providing substantial capital resources that will allow the company to invest in and deliver large-scale regeneration projects—a compelling growth sector in the UK real estate market. The existing senior management team will remain in place and has demonstrated its commitment to the transaction by investing alongside Tunstall and Starwood. Financial terms of the deal were not disclosed.
Tunstall is a pan-European alternative investment fund platform established in 2016 to combine the skills of senior individuals experienced in capital markets and investment banking, European real estate origination, underwriting and asset management, and specialist expertise in nonbank lending and distressed credit.
For additional details on the agreement, please read the press release.