BLP advises Aviva on the sale of a 50% stake in central London portfolio to PSP Investments
International law firm Berwin Leighton Paisner (BLP) has acted for Aviva Investors on the sale of a 50% stake in a central London portfolio to PSP Investments, one of Canada’s largest pension investment managers. The initial portfolio comprises a mix of both stabilised income-generating assets and development opportunities in both the City and West End of London.
The new 50/50 joint venture partnership has a mandate to invest in central London real estate. Aviva Investors will act as asset and development manager.
The multi-disciplinary BLP team was led by real estate partners Robert MacGregor and Ian Waring, and investment management partners Simon Pollock and Nicola Hopkins. The team combined a wide selection of the firm’s core expertise including investment management, real estate, tax, construction and intellectual property. Linklaters acted for PSP Investments.
BLP’s Simon Pollock said: “BLP has broad strength across all areas of the real estate sector, including corporate, investment management, finance, tax and litigation. This transaction is another example of the firm’s experience and track record in representing our clients on complex indirect real estate transactions which demonstrate our knowledge and understanding of the market as well as our multi-disciplinary offering.”