Wragge Lawrence Graham & Co's Investment Funds team has acted on two significant real estate funds transactions within the space of a month.
First, the team acted on the formation, fund raise and initial deployment of capital for Horizon Long Lease Housing LP (Horizon).
Horizon was established as a Scottish LP with a view to generating inflation-linked returns from investment in UK social housing. John Reed advised Horizon on its establishment and preliminary fund raise, which totalled £30 million.
Horizon's investors made an initial capital drawn down to acquire a portfolio of properties let to housing associations. Wragge Lawrence Graham & Co's Real Estate team, led by partner Jacqueline Knox and including principal associate Sally Farrall and associate Raj Flora-Seehra, advised Horizon on the acquisitions.
Partner Nick Heather, who is head of the Investment Funds team at Wragge Lawrence Graham & Co, said: "I have known the principal of Horizon for a number of years and introduced him to Dexion Capital (another client) and they worked together on this project. Horizon is a particularly exciting client for the firm as a whole as the Social Housing sector is a particular specialism of the Real Estate team and Horizon has a very significant pipeline of opportunities".
The second deal saw the team act for AEW UK South East Office Fund LP (AEW SEOF) on a secondary fund raise. Institutional investors raised £75 million for investment in office properties in the South East of England.
Wragge Lawrence Graham & Co had acted on the formation and initial £25 million fund raise for AEW SEOF in June 2014. Kris Rogers acted on both AEW transactions.
Elliot Weston, partner, provided tax advice in respect of both the Horizon and the AEW transactions, assisted by associate Khurram Kayani on Horizon and senior associate Kate Worthington for AEW.