Islamic finance specialists at premier regional law firm Foot Anstey LLP have just completed the second of two major real estate transactions for London-based independent property advisory firm 90 North Real Estate Partners LLP (90 North).
The latest transaction sees the Shari’ah compliant real estate advisors 90 North complete a £46,000,000 acquisition of Parham Road Student Village (The Village) in Canterbury on behalf of Gulf investors.
Philip Churchill Co-Founder Partner of 90 North, said: “Canterbury is a long established centre for education and we are delighted to work with our partners to provide high quality student housing in an excellent location. This transaction takes deals that we have concluded in the student sector by 90 North’s Founder Partners to more than £150,000,000.”
The Canterbury acquisition closely follows 90 North’s £18,000,000 transaction to acquire Siemens PLC’s new HQ at Teal Park, Lincoln to house the conglomerate’s new gas turbine facility. The Canterbury transaction takes the company’s 2012 deals executed to circa £64,000,000.
Imam Qazi, Real Estate Partner and Islamic Finance specialist at Foot Anstey commented: “We are delighted to have been involved with 90 North from the outset and to help see the two transactions through to a successful conclusion. It was a great team effort involving a range of our specialist practice areas including investment structuring, tax, real estate, construction and Islamic finance. 90 North is clearly very active in pursuing investment opportunities for its Middle Eastern client base and we look forward to continuing our relationship with them.”
James Caan, former BBC Dragon and Chairman of 90 North added: “Both our recent transactions highlight how we work in partnership with Gulf investors, developers and other parties. I am delighted with our progress in 2012 and look forward to progressing further deals where they match our clients’ wants and needs and can deliver superior risk adjusted returns.”