Mr. Spence’s recent matters include representing:
Real Estate M&A
- Advised Clarion Partners Europe (European real estate investment fund manager) on the sale to Dream Industrial REIT (an open-ended real estate investment trust listed on the Toronto Stock Exchange) of a corporate structure holding a portfolio of 31 institutional quality logistics assets across Germany, Holland, France, Spain, Slovakia and the Czech Republic for a consideration valuing the properties at over €880 million.
- Medical Properties Trust on the acquisition of a corporate structure which owns a portfolio of 30 acute care hospital facilities valued at approximately £1.5 billion. The acquisition is considered the UK’s largest real estate transaction of 2019.
- A global real estate investment fund on the establishment of a new UK holiday parks brand, including joint venture and management agreements, asset and business acquisitions, development and financing.
- A UK holiday parks owner/operator on the ground rent sale and leaseback of a substantial portfolio of holiday parks.
- HSBC and Hines, as joint owners, on the £416 million sale of the entire issued share capital of the corporate owner of the 460,000 square feet Broadgate Quarter office complex, situated on the Broadgate estate, London EC2.
- Kennedy Wilson Europe on the £204 million acquisition of 111 Buckingham Palace Road, SW1 – a 227,000 sq. ft. landmark, Grade A building located near Victoria Station, London.
Pan-European Portfolio M&A
- BentallGreenOak on the sale of a portfolio of 42 premium logistics assets across four Western European jurisdictions (France, Spain, Italy and Netherlands) for a consideration of around €1.2 billion, via a sale of a structure involving regulated and unregulated, listed and private vehicles.
- Gramercy Property Europe (now Clarion Gramercy) on the €1.085 billion sale of a logistics portfolio to a consortium of clients managed by AXA Investment Managers.
- Medical Properties Trust on the acquisition of, and shareholder arrangements in relation to, a 46% stake in the Swiss healthcare real estate company Infracore SA. The acquisition valued the real estate (13 Swiss acute care hospital campuses) held by Infracore at around $900 million.
Real Estate Joint Ventures
- Ares Management on various matters, including the establishment of a joint venture relating to the acquisition and on-going development of the Kampus PRS/mixed use site in Manchester and the acquisition of a 70% stake in the Go Native serviced apartment operating business and related joint venture arrangements.
- A global alternative asset manager on the establishment of a c. £150 million co-investment vehicle to invest in the acquisition and development of PRS schemes across three central London locations.
- HIG Capital in relation to Bayside Capital’s (a credit affiliate of HIG Capital) joint venture with M7 Real Estate to acquire light industrial real estate in the Netherlands.
- Kennedy Wilson Europe on its joint venture agreement with AXA Investment Managers, pursuant to which AXA acquired a 50% interest in a portfolio of Irish PRS assets (Alliance, Clancy Quay and Sandford Lodge), comprising 1,173 total units.
Real Estate Funds
- Gramercy Property Europe (now Clarion Gramercy) on the establishment and close of Fund III and Fund IV in the flagship Gramercy Property Europe series of pan-European real estate funds targeting investments in logistics assets.
Prior to joining Goodwin, Mr. Spence was a senior associate with Linklaters LLP.