Maples Teesdale advise Tristan Capital Partners on the purchase of the Interchange Building, Croydon
Maples Teesdale advised CCP 5, the new perpetual core plus fund advised by pan-European real estate investment manager Tristan Capital Partners, on its acquisition of the Interchange Building, a Grade A office asset in Croydon from a fund advised by CarVal Investors for £71.5m. The acquisition was structured as a corporate purchase of the shares in a Luxembourg company that owns the property.
The 180,000 sq ft building is arranged over nine floors and is currently occupied by a mix of high quality tenants including EDF Energy, Siemens plc, and Vitality Corporate. The building was extensively refurbished in 2014 and provides over 420 car parking spaces. Peter Mather, managing director of investments at Tristan Capital, said: “This acquisition allows us to capitalise on Croydon’s emergence as a low cost, high amenity alternative to London’s core office locations. The recently refurbished Interchange Building is currently the only office located in Croydon offering 10,000 sq. ft. plus Grade A space and is in a prominent location with excellent transport links.”
Paul Burke (Partner) assisted by Hollie Norman advised on the corporate aspects, Roger Thornton (Partner) and Ana Klein (Partner) assisted by Chris Xitsas (Senior Associate) acted on the real estate aspects of the transaction with Jo Preece (Senior Associate) advising on construction, Keith Gregory (Consultant) advising on tax and Dellah Gilbert (Partner) advising on ratings issues.
Also advising CCP 5 on the purchase were Loyens & Loeff, DTRE, PwC and TMD.
Roger Thornton, Partner, Maples Teesdale
020 3465 4315