Freshfields advises Cale Street on its acquisition of 50 percent of intu’s Derby shopping centre and its joint venture with intu
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has acted for Cale Street on its 50 percent acquisition of the intu Derby shopping centre and its joint venture with intu.
The transaction, which valued the centre at December 2018’s book value of £372.5m, closed on 8 July 2019. Cale Street is an investment firm backed by the Kuwait Investment Office, the London office of the Kuwait Investment Authority.
Freshfields real estate partner Roger Schofield said: “We are delighted to have worked alongside Cale Street on this innovative transaction. By navigating complex JV arrangements, Cale Street have achieved a balance which both supports intu’s strategy of LTV reduction and provides Cale Street with an attractive equity investment opportunity.”
The Freshfields team was led by partners Roger Schofield, Patrick Ko and Simon Johnson.
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