Mishcon de Reya has advised one of Israel's largest real estate investment holding companies, Alony Hetz Properties and Investments Limited, on the acquisition of real estate investment advisers, Brockton Capital LLP and the establishment of a new real estate investment company, Brockton Everlast Inc. Limited with an initial equity investment of £340m from Alony Hetz.
Brockton Everlast will be managed by its board of directors and will begin to seek investment and development assets focused on the Greater London metropolitan area, commencing in late 2018 or early 2019.
Alony Hetz Propreties and Investments, established in 1989, focusses on holding commercial real estate in Israel, the US, UK and Switzerland, primarily with long-term leases to quality tenants. The company has a reputation for its highly efficient management practices and for its outstanding record of investments and strong financial resources. Alony Hetz was one of a small number of institutional investors which backed the establishment of Brockton Capital in 2005 and is a significant investor in each of the three existing Brockton Capital funds. Brockton Capital is an investment adviser to private real estate funds with a 100% focus on UK real estate.
The cross-departmental Mishcon de Reya team was led by Corporate Partner Richard Tyler, with assistance from Corporate Associates James Spencer, Leanne Maund and Tom Grogan. Specialist advice was provided by Funds and Financial Services Partners Daniel Greenaway and Tim Flood, Employment and Incentives Partner Stephen Diosi and Tax Partner John Skoulding with Tax Managing Associate Ceri Stoner.
Commenting on the acquisition, Richard Tyler said: "This deal has once again showcased our cross-departmental capabilities in advising on complex, cross-border corporate transactions for the real estate sector, involving regulatory, tax and incentives work. This is a further show of confidence for the London real estate market and we are excited to be involved in the future successes of the new business."
