Dentons advises Longstock Capital on first close of £100m UK office fund
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Dentons has advised Longstock Capital on the formation and establishment of its discretionary UK office recovery fund, which is targeting more than £100 million of investments and has successfully reached its first close.
The first close represents a key milestone in Longstock Capital’s fundraising and investment strategy, enabling the business to continue its focus on acquiring and repositioning office assets across the UK.
As part of the fund’s initial deployment, Longstock has completed the acquisition of McLellan Works in Glasgow, a refurbished mixed-use asset comprising approximately 44,000 sq ft.
The Dentons team, led by investment funds partner, Owen McLennan, acted for Longstock on all aspects of the fund formation. Mr McLennan said: “It has been a pleasure to support Longstock Capital on the successful first close of LOIC and its initial investment. This fund reflects a clear and compelling strategy to capitalise on opportunities in the UK office sector, and we look forward to seeing the platform continue to grow as it deploys capital across the market.”
Mr McLennan was assisted in advising Longstock Capital by Sam Smart, an associate in the investment funds practice, alongside Lorna McCaa, partner, and Alasdair Graham, senior associate, both in the tax team.
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