LONDON, March 9, 2015 – Global law firm Morgan Lewis announces that it has advised the owner of Liberty Living Management Two Limited (“LLMTL”), the property asset management company, on the sale of LLMTL to Canada Pension Plan Investment Board (“CPPIB”), the Canadian state pension investment body.
LLMTL is a recognised leader in the management of UK student accommodation, and manages over 16,700 student beds in 17 major university towns and cities across the UK. The sale formed part of a larger transaction under which CPPIB acquired the student accommodation portfolio of Brandeaux Student Accommodation Fund (Sterling) Limited (“BSAF£”), which is managed by LLMTL. Nabarro advised CPPIB and Clifford Chance advised BSAF£.”
The Morgan Lewis team was led by London partner Iain Wright, with support from partner Kate Habershon and associates Jayne McGlynn, Angus Young, Katerina Heal, Sarah Ash, Aryan Sharahi and Elin Gosby.
Commenting on the deal, partner Iain Wright said: “We are delighted to have worked with the owner of LLMTL on this significant transaction.”
He added: “The deal follows a series of important transactions by the London Corporate Practice, which has seen a significant uptake in corporate and M&A matters in recent months. The transaction follows a series of matters undertaken by the team including recently advising high profile entrepreneurs Amit & Meeta Patel on the sale of Auden Mckenzie to Actavis.”
The firm's Corporate team has experienced dramatic growth over the past year with the appointment of 4 further partners specialising in this area including, David Ramm, Tom Cartwright, Stephen Walters and Tim Corbett. These appointments further strengthen the firm’s Private Equity, Emerging Business & Technology, Life Sciences and M&A practices.