Lawyer Monthly Magazine - September 2021 Edition

Legal Advisers to Park Developments PARK DEVELOPMENTS’ SALE OF LOGISTICS UNITS IN DUBLIN FOR €47.9 MILLION MERGERS & ACQUISITIONS ABOUT THE DEAL Gore & Grimes Solicitors LLP assisted Park Developments on the sale of a portfolio of logistics units at Northwest Logistics Park in Dublin for €47.9 million. The assets, which include four high-spec buildings extending to more than 242,000 square feet and let on long-term leases, have been bought by Savills Investment Management’s Commercial Fund. The fund is a pan-European multi-sector operation with a focus on office, retail and logistics assets. Its purchase of the logistics units is believed to represent a “significant investment” in the Irish market as the fund actively seeks further investment opportunities across the nation. The sale of the units was undertaken by two lots. Lot 1 comprised of three completed units, the sale of which was completed within one month of exchange of contracts, while Lot 2 comprised of the fourth unit, which isunder construction and the sale of which will not be completed until March 2022. Along with Gore & Grimes, Park Developments was represented by Savills and CBRE. The Gore & Grimes teamwas led by partner Keith McConnell. Savills IM was advised by A&L Goodbody. TRANSACTIONS 89 SEP 2021 | WWW.LAWYER-MONTHLY.COM