INDEPENDENT UK law firm Burges Salmon has advised abrdn, one of the world’s largest independent, full-service asset managers with a commercial real estate lending platform, on a funding package arranged by Brotherton Real Estate to Clearbell Property Partners IV LP, a fund managed by Clearbell Capital LLP, to support a £34 million acquisition of industrial assets from UK property investment firm Palace Capital plc.
The portfolio comprises six industrial and logistics assets located throughout the UK, covering a surface of more than 310,000 sq. ft.
The Burges Salmon team advising abrdn was led by Edinburgh-based director Amy McVey and partner Stuart McMillan with support from associate Stephanie Lynch and trainee solicitor Sam Efiong. Partner Sally Jupp and director Paul Clark provided real estate expertise.
Amy McVey commented: “We’re pleased to have advised abrdn on this significant funding package which supports the development of regional industrial hubs across the UK and maintains abrdn’s reputation as a funder of choice for sponsor-led portfolio deals.”
Neil Odom-Haslett, Head of Private Credit and Commercial Real Estate Lending at abrdn, added: “Delighted to support Clearbell and look forward to expanding the relationship with them. We’d also like to thank Burges Salmon for their support and advice on this project.”
