Arlington Business Parks acquires controlling interests in Hammersmith

Client(s) Arlington Business Parks Partnership / Hammersmith

Jones Day advised Arlington Business Parks Partnership (ABPP), an integrated property group that owns, develops and manages industrial property and business space globally, in connection with its $130 million acquisition and related financing of 50% of the units in the Hammersmith Business Parks Unit Trust and 50% of the shares in Hammersmith Trust Management Limited, the management company of the Trust. The Trust was a joint venture, 50% of which was owned by Akeler Properties S.a r.l. (a company which itself was acquired by ABPP in November 2006) and 50% of which was owned by a Delancey group company. ABPP acquired Delancey's 50% for a total consideration of approximately £66 million. The acquisition was part funded by debt from ABPP's increased facility with Eurohypo, AG. Deustsche Postbank AG was also involved as the ongoing lender to the Trust.