The first transaction involved the acquisition of the European headquarters of US multinational conglomerate 3M in Bracknell in the South East for £77,000,000 and the second transaction involved the acquisition of the NHS National Services Division HQ in Edinburgh for £48,300,000.
Both transactions involved structured Islamic financing arranged by Broadoak Real Estate Finance as well as shariah compliant investment from a leading investment institution in Kuwait.
Imam Qazi, Head of Islamic Finance at Foot Anstey, commented: "We were delighted to assist with the smooth completion of these deals for Greenridge who are a very active investor in the real estate market and have a keen eye for outstanding investment opportunities. These deals further demonstrate the specialist capability of our team on structured Islamic financing and investment transactions."
Bik Bhuptani, co-director of Greenridge, added: “The fact that we exchanged contracts on both of these acquisitions within ten working days of agreeing the deals is a great testament to our internal and external professional teams. Foot Anstey went that extra mile with their hard work, tenacity and dedication. Having acquired some £230m of stock since September 2015, we are targeting another £750m of acquisitions in the next 18 months.”
The Foot Anstey team was led by partner and Head of Islamic finance, Imam Qazi, and supported by senior associate Zahir Nayani. The deals involved lawyers from across the firm including banking partner Will Whitt.
Foot Anstey's specialist Islamic finance team has recently advised on a string of similar financing and investment deals for shariah compliant banks and investors across multiple jurisdictions.
The transactions follow the team's previous success at the Islamic Finance News' Lawyer Awards where they were named runner-up in the global real estate category as well as climbing up the rankings in the Legal 500.