Foot Anstey advises Blacksand on investment worth £40m

The Islamic Finance team at national law firm, Foot Anstey LLP, has advised Bahrain-based institutional investor Blacksand  on the corporate acquisition of the Travelodge Gatwick Airport Central Hotel.

The acquisition, which is worth £40m, comprised of acquiring the corporate structure that owns the property which is leased to Travelodge on a long-term basis. Blacksand obtained Islamic Financing from Abu Dhabi Islamic Bank.

The Foot Anstey team included Lingxi Wang (Managing Associate) who advised on real estate and finance matters, Karl Bradford (Legal Director) who advised on the corporate aspects of the deal. They were supported by Imam Qazi (Partner), Zahir Nayani (Partner), Aziz Deen (Associate) and Sioned Harries (Trainee Solicitor).

Lingxi Wang, Managing Associate at Foot Anstey, said: "This is the first unit trust acquisition that we have completed for Blacksand having previously supported it on the acquisition of a £41m purpose-built student accommodation asset. The team at Blacksand continues to make strong strategic real estate investments within the UK market, and we're happy to support them with these opportunities. "

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