London (UK) – Fasken Martineau, a leading international business law and litigation firm, announced today that it advised K&C REIT plc (TIDM: KCR.L), the central London-focused residential real estate investment trust, on the completion of its admission to the London Stock Exchange’s AIM including the associated placing on AIM and borrowing from Metro Bank. The Firm also advised K&C on their first acquisition post AIM admission of Silcott Properties Limited, a residential building in Chelsea. Experts from Fasken Martineau’s corporate, tax, banking, property and employment groups were involved in the transaction.
K&C is the largest REIT (real estate investment trust) specialising solely in residential property and is the only REIT focusing on the central London residential market. Fasken Martineau is one of a handful of law firms to have assisted in launching a REIT in the UK.
“K&C is novel in that it is the first REIT to launch focused on high-end residential property in prime areas of central London and only the second REIT focussed on any sort of residential property,” said Fasken Martineau corporate partner Nigel Gordon. Tax partner Gerald Montagu commented: “Take-up of REIT status has been slower than was originally hoped, due in no little part to the complexity of the tax regime applicable to REITs; it is very heartening that K&C REIT plc’s directors have been undaunted by these challenges and we wish them every success”.
“We are delighted to have Fasken Martineau on our team to provide K&C REIT with outstanding corporate and tax advice,” said K&C REIT chief executive Tim James. “We look forward to working with Nigel Gordon and Gerald Montagu and their team as we complete further portfolio acquisitions over the next three to six months,” he said.
K&C REIT was advised by a team of Fasken Martineau experts led by corporate partner Nigel Gordon and including corporate partner John Burnand, tax partner Gerald Montagu, property partner Nadeem Khan, associates Helen Sutcliffe, Angela Wing, Charlotte Bruce and Rebecca John and corporate trainees Sophia Barros-Curtis and Ravina Ravindran.
About Fasken Martineau
Fasken Martineau is a leader in international business law and litigation. The firm has over 770 lawyers with offices in Vancouver, Calgary, Toronto, Ottawa, Montreal, Québec City, London, Paris and Johannesburg. For more information, please visit the firm’s website at www.fasken.com.