DLA Piper has advised Cornerstone Real Estate Advisers on the purchase of 40 Gracechurch Street, a Grade A office building in the City, for £94 million. Cornerstone were acting on behalf of a separate account client.

The transaction was effected by way of a corporate sale of a special purchase vehicle and involved a team of lawyers from DLA's offices in the UK and US.

Partner Richard Crossfield led the DLA Piper Real Estate team in the UK, supported by Paul Dineen and Gemma Lodge. Jon Kenworthy advised on Corporate aspects, alongside Anna Hopper and Paul Roberts. Tax advice was provided by Richard Woolich and Luigi Falivene.

Richard Crossfield said: "This transaction is a great example of DLA Piper's ability to close complex international deals on behalf of its clients. We are delighted to have worked closely with Cornerstone on this transaction which represents their first acquisition for their new Central London initiative."

Carey Olsen (Jersey) and Harneys (Anguilla) advised Cornerstone on local law issues.