Investors and funds

Penningtons Manches Cooper has a well-established reputation for advising real estate investors and funds from the UK and internationally. Our team is trusted by a broad client base, ranging from private and family office investors to some of the world’s largest institutional investors. By providing tailored and expert guidance for every client, we adeptly manage large-scale and complex portfolios across various asset classes, as well as single assets.

Real estate investment expertise

Our real estate investment team works closely with the corporate, banking and finance, planning, construction, real estate disputes and tax teams to provide a complete service offering. Our clients’ investments are often dealt with through specific types of real estate vehicles, whether single purpose, limited partnership or joint venture. We advise on a variety of ownership structures, identifying the most appropriate way to meet objectives, as well as on fundings and forward sales and purchases.

One of the critical success factors for real estate investment clients is managing the relationship between landlord and tenant. Our team advises both landlords and tenants – from corporates with large, diverse portfolios, to family-run businesses with a portfolio of assets. This gives us a rounded perspective and enables us to understand the key concern and priorities of all parties. In particular, we have gained a strong track record in acting for institutions that hold a varied asset portfolio.

Our lawyers also advise investors on long income, including sale and leasebacks, ground leases and income strips. We represent various institutional funds investing in this sector. Ground rent transactions often involve advising on both sale and leaseback ground rent models as well as situations where the ground rent transaction has formed part of a refinance of the assets.

Penningtons Manches Cooper is very experienced and knowledgeable on all fronts. The firm understands the asset they work on and the commercial drivers of their client.

At all times, our philosophy is to pay proper attention to property management-related issues to ensure asset value is not eroded. This philosophy is shared by the members of our real estate dispute resolution team who provide support when disputes arise and to prevent them happening unnecessarily. We can also call on experts in the firm’s specialist building and fire safety team who provide guidance on a full range of issues including remediation measures, duties and functions required under new and existing regulations, and building safety law compliance.

How we help our clients

Acquisitions and disposals

Joint ventures and development agreements including forward funding

Limited partnerships and other indirect investment

Landlord and tenant

Property management including rent reviews

Building and fire safety law

Appointment of property professionals

Distressed property

Tax matters

They have a full-service offering and are a national powerhouse. The partners are keen to work alongside in-house counsel and the business collaboratively.

They are very good at running a tight ship, negotiating sensibly and technically well. The team is always available and quick to respond.

Their commitment to ensuring that we receive the best advice and work product in a timely fashion is unparalleled against any other third party I work with.

The firm has first-class knowledge and the ability to be commercial and strategic… Penningtons Manches Cooper gives us high-quality guidance.

Penningtons Manches Cooper is very approachable and proactive when issues arise in negotiations and it provides clear and sensible advice.

Recent work highlights

Office acquisition and sale

Acting on behalf of a fund managed by Alpha on the acquisition of an office block in Bristol, which was let entirely to a government body, and its subsequent sale.

Institutional investor purchase

Representing one of the UK’s largest listed institutional investors on the £100 million purchase of a multi-let industrial and logistics park spanning more than 700,000 sq ft from a UK property fund.

Multi-let retail park acquisition

Advising an institutional investor on the prospective purchase of three multi-let retail parks from a UK property investor. The deal included 40 occupational leases which our multi-disciplinary team dealt with efficiently and on time.

London property sale

Acting for a major institutional investor on the £110 million sale of a London building to a private real estate investor. The deal incorporated all asset management matters including a programme of re-gears, surrenders and new lettings.

Redeveloped office purchase

Representing a fund managed by Fidelity in relation to its purchase of an office building in London that had been redeveloped to be carbon neutral, including advising on real estate, construction and tax matters.

Holding vehicles for developments

Acting on the real estate aspects of the corporate acquisition of holding vehicles which owned two major development sites with planning permission for retirement living. The two developments will comprise 290 independent and assisted living apartments.

Pre-development PRS scheme

Advising Notting Hill Genesis on the pre-development purchase of 400+ private rented sector units from Ballymore at Royal Wharf, Silvertown with an estimated £95 million GDV.

Residental portfolio management

Managing a major institutional investor’s expansive residential portfolio worth over £300 million. Our role involves successfully litigating disputes with tenants and recovery of arrears and possession.

Pub portfolio sale

Representing Aprirose Investment Company on the sale of 14 pubs to Punch, which was complicated by the opco-propco structure. The transaction included assets and employee transfers, with the portfolio comprising freehold interests and leaseholds needing landlord consent.

Multiple warehouse transactions

Advising an institutional investor on numerous warehouse sales and acquisitions including the sale of London assets worth £32 million and £16 million, and acquisitions of industrial and distribution assets worth £30 million and £23 million in Portsmouth and Nuneaton.

Forward-funding investment

Acting for an institutional investor on the forward funding of a 120,000 sq ft logistics unit near Manchester Airport. The property was let to a catering company for a 25-year lease. Post-development, we acted on the management and sale.

Pre-development PRS scheme

Advising Notting Hill Genesis on the pre-development purchase of 400+ private rented sector units from Ballymore at Royal Wharf, Silvertown with an estimated £95 million GDV.