Grosvenor Enters £1.2bn Joint Venture with Norges Bank
Deal News | Jan 30, 2025 | Bryan Cave Leighton Paisner LLP
International law firm Bryan Cave Leighton Paisner LLP (BCLP) has successfully advised Grosvenor on a significant joint venture with Norges Bank. This high-profile transaction involves a portfolio of properties located on Grosvenor Street and Mount Street in London's West End, valued at approximately £1.2 billion. The case presented numerous complex legal challenges, including leasing, title issues, corporate structuring, and sales mechanics. Key personnel from BCLP, including Kieran Saunders and Chris Rowe, led a large and diverse team in facilitating this deal. The successful execution of the deal marks a milestone for both Grosvenor and BCLP, showcasing the firm's capability to handle large-scale, complex real estate transactions. Grosvenor's Executive Director, Nathalie Hakim, highlighted the joint venture as a crucial step in achieving future opportunities within their London Estate.
Sectors
- Real Estate
- Legal Services
- Investment Management
Geography
- United Kingdom – The article focuses on properties located in the West End of London, specifically Grosvenor Street and Mount Street.
- Norway – Norges Bank, a key participant in the joint venture, is based in Norway.
Industry
- Real Estate – The article discusses a joint venture involving a portfolio of properties, emphasizing the real estate industry's dynamics.
- Legal Services – BCLP's role in advising Grosvenor highlights the importance of legal services in complex transactions.
- Investment Management – The involvement of Norges Bank indicates activities in investment management, particularly regarding real estate investments.
Financials
- £1.2 billion – The valuation of the portfolio of properties involved in the joint venture between Grosvenor and Norges Bank.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grosvenor | Target Company | Company | A leading international property company with a wide range of urban property interests. |
| Norges Bank | Buyer | Company | The central bank of Norway, involved in investment management. |
| Bryan Cave Leighton Paisner LLP (BCLP) | Legal Advisor | Company | An international law firm advising on the joint venture. |
| Nathalie Hakim | Executive | Person | Executive Director of Grosvenor. |
| Kieran Saunders | Partner | Person | Partner and Global Practice Group Leader at BCLP leading the transaction. |