BCLP advises Investec Bank plc on its inaugural real estate fund and underlying joint venture

International law firm BCLP has advised Investec Bank Plc on the establishment of its first single asset real estate fund structure, REALIS, and subsequent joint venture in respect of the indirect acquisition of Connaught House. The joint venture has been established with operating partner Beltane Asset Management who will manage the recently refurbished 52,700 sq ft office located in Guildford, Surrey.

This transaction marks the first deal for REALIS and over the next two years, the fund intends to deploy £250 million on future acquisitions using similar deal-by-deal single-asset structures. REALIS’ investment strategy shall be focused on asset development or repositioning in highly liquid markets and in distressed transactions. Yon Papageorgiou, head of Investec’s real estate equity investments, was delighted to finalise the transaction and anticipates this being the “first of many deals” with BCLP.

The team was led by partner Kieran Saunders, with support from partners Mark Brailsford and Matthew Baker, senior associate Mark Kaye, associate Cameron Price and trainee Suelynn Lee.