DLA Piper has advised real estate private equity firm Harrison Street Real Estate Capital LLC (Harrison Street) on the establishment of a joint venture with LinkCity, a wholly owned subsidiary of Bouygues UK, for the development of a 435 bed student accommodation scheme in Birmingham.
The £40 million development is financed by UBS, with Harrison Street as the majority equity investor and Linkcity as the minority equity investor. Linkcity will develop and operate the site with Bouygues subsidiaries providing facilities management and construction services.
The DLA Piper team comprised Corporate partner Rob Salter, legal director Mark Satterly, and Finance & Projects partner Laurence Rogers (all London), Real Estate partners Stephen Blacksell and Ian Doig (both Sheffield), Tax partner Mark Burgess (Birmingham) and IPT partner Roger Gough (Sheffield).
Partner Stephen Blacksell said: “This transaction is an excellent example of our cross-practice real estate sector strength. We were able to combine talents across the firm in a number of offices to deliver a complex transaction for the client within a challenging timescale. I would like to congratulate all those involved.”