Stephenson Harwood Advised on M&G and TPG Real Estate Joint Venture
Stephenson Harwood Advised on M&G and TPG Real Estate Joint Venture
Law firm Stephenson Harwood LLP has advised M&G Real Estate (M&G) on a c. £700 million joint venture with real estate platform of global alternative asset management firm TPG, TPG Real Estate.
M&G’s ‘Active Growth Logistics Partnership’ (AGLP), the UK’s fourth-largest multi-led industrial portfolio will be managed and grown by the JV at 6 million square feet occupied by 630 businesses. A 50% equity stake in AGLP has been acquired by TPG Real Estate from M&G, with M&G retaining 50% and remaining as asset manager on the portfolio. Further value across the platform including a planned £53 million programme to strengthen asset quality and sustainability will be driven by the JV.
Client relationship partners Simon Brading and William Saunders led the Stephenson Harwood team advising on the transaction, with support from tax partner John Meehan.
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