BLP advises DekaBank Deutsche Girozentrale on £26m financing acquisition

Berwin Leighton Paisner (“BLP”) acted for DekaBank Deutsche Girozentrale (“Deka”) in relation to £26m of acquisition finance being provided to Pramerica Real Estate Investors Europe, a subsidiary of the US institutional investor Pramerica, towards the purchase of 11 Pilgrim Street, EC4, London.

The 100,000sq ft office buildings, previously owned by UBS Global Asset Management, is multi-let to three tenants, Mayer Brown International LLP, Bechtel Limited and The Japanese Canteen Limited.

The BLP team was led by Real Estate Finance partner Jo Solomon and assisted by Leticia Bioh (Real Estate Finance), partner Chris Adams and Catherine Trevorrow (Real Estate) and partner Charles Goddard (Tax). With respect to German law matters, Beiten Burkhardt, one of BLP’s German preferred firms acted for Deka.

CMS Cameron McKenna LLP acted for Pramerica on the finance and property aspects of the transaction, and Olswang acted for the seller. 

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