Collas Crill acted for Channel Islands Property Fund Limited and Bailiwick Investments Limited on the transfer of a significant Guernsey office building from one fund to another.
With both funds listed on the Channel Island Securities Exchange (CISE), the matter was a connected party transaction in which information memoranda were circulated seeking investor consent in, what is believed to be, a first for the CISE.
In addition to the negotiation of the SPA, the Channel Islands Property Fund team advised on a £14,000,000 fund raise and further listing and a refinancing, representing one of a number of fund raising and acquisition matters carried out on behalf of these funds.
The team was led by group partners Wayne Atkinson, working on behalf of Bailiwick Investments Limited, and Paul Wilkes, working on behalf of the Channel Islands Property Fund Limited.
Supporting them on the transaction was associate Gareth Morgan, trainee solicitor Chloe Carnachan, paralegal Annabel Bishop and property partners Paul Nettleship and Jason Green.