Macfarlanes has advised Legal & General Property on the merger of its Industrial Property Investment Fund (“IPIF”) with the Falcon Property Unit Trust (“Falcon”). The two funds have successfully entered into an Amalgamation Agreement under which the amalgamation has taken place immediately.

The amalgamated fund will be called IPIF and with almost £900m in industrial assets, will be the largest UK industrial specialist fund.  It will continue to be managed by Legal & General Property.

The Macfarlanes team was led by real estate partner Steven Pitchford and funds partner Alex Amos.