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Collas Crill acts in £31.5million acquisition

Collas Crill has acted for Pacific Industrial and Logistics REIT Plc and its subsidiary, Alanchoice Limited, in the acquisition of three Guernsey companies for a combined £31.5 million.

Acquired from real estate investor Oxenwood YPL Limited, the acquisition included the purchase of a portfolio of six logistics real estate assets, bringing the total value of Pacific Industrial's investment portfolio to £125m.

Lead by senior associate Simon Heggs, Collas Crill's involvement included assisting Alanchoice with its due diligence on each of the target companies and coordinating the simultaneous release of existing security, completion of the acquisitions, transfer of resident agent and the adherence by the target companies to the acquisition facility provided by Santander.

The team worked with Trowers & Hamlins LLP who were the UK counsel acting for Pacific Industrial.

Simon said: "We are delighted to have been able to assist Pacific Industrial and the team at Trowers & Hamlins on this significant addition to Pacific Industrial's existing property portfolio."

"It has been a pleasure to work with Ian Dobinson, Helen Fysh and their teams at Trowers who managed a logistically complex transaction in a smooth and seamless manner."

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