BLP advises on £415m purchase of Nido Student Living

International law firm Berwin Leighton Paisner (BLP) advised Round Hill Capital on its purchase of Nido student accommodation business from private equity firm Blackstone. The deal, worth £415m, is one of the largest structured corporate real estate transactions since the start of the downturn.

The deal was funded through a consortium and saw Round Hill Capital acquire student accommodation sites in King’s Cross, Spitalfields and Notting Hill. Established in 2007, the business provides accommodation for over 2,500 students. 

BLP provided advice on all aspects of the Round Hill Capital deal, which included the financing, structuring and tax elements. The cross practice team was led by real estate partner Chris de Pury and was supported by Deepa Deb in Real Estate, Adam Bogdanor in Corporate, Laurence Rogers and Steve Clark in Finance and Neville Wright and Elizabeth Bradley in Tax.  PiscoPartners, Ogier and Loyens & Loeff advised on Maltese, Jersey and Luxembourg tax issues respectively.

Commenting on the deal, BLP’s Chris de Pury said: “This was a large and complex transaction which required a great deal of multidisciplinary expertise.  We are increasingly advising on acquisitions and developments which include student accommodation and the Nido deal is one of the largest transactions of 2012 so far.”

DLA Piper advised Blackstone (seller), Simmons and Simmons, Sidley Austin, Wragge & Co advised various financing providers.

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