DLA Piper has advised the National Asset Management Agency ('NAMA') and Duff & Phelps in relation to the restructuring and sale of a group of five property owning companies to Starwood Capital Group.

The five companies, namely Aparthotels (Bermondsey) Limited, Aparthotels (Tower Bridge) Limited, Mazey Properties Limited, Tower Bridge Road Developments Limited and Warwick Road Developments Limited, were placed into administration on 22 October 2013.

The successful completion of the administrations and company voluntary arrangements has enabled a sale of the companies to Starwood Capital Group and all creditors being paid in full, including NAMA.

The portfolio consists of four 'apart-hotels' located across London in Bermondsey, London Bridge and Earls Court, Kensington, and a residential complex in Bermondsey.

The DLA Piper team was led by restructuring partners Paul Fleming and Jonathan Richards. They were assisted by legal director Chris Parker and senior associate Rowan Aspinwall.

Paul said: "We are very pleased to have assisted NAMA and Duff & Phelps on this transaction, and that we have managed to ensure the portfolio is kept as a whole, with all creditors being paid in full is a great triumph."

NAMA is a body created by the government of Ireland in 2009 in response to the Irish financial crisis. Duff & Phelps is the premier global valuation and corporate finance advisor, with expertise in complex valuation, dispute consulting, M&A and restructuring.