19 February 2020
Taylor Wessing has advised Cara Real Estate, the real estate arm of Cara Investment, on its acquisition of 7-10 Waterloo Place from real estate investment manager Barings.
The Grade II listed office building in St James’s was sold for £71m and is Cara's second London deal following the purchase of 20 Soho Square for £117m in 2018.
This transaction drew on the deep expertise offered by the firm’s real estate, construction, planning, banking and finance and corporate teams.
Real Estate partner Adam Marks, who led the deal, commented: "Cara is a long-standing client and we are delighted to have worked so closely with them throughout the life cycle of this acquisition. The work required a well-balanced blend of skills and expertise from across the firm and we look forward to continuing to collaborate on future deals."
Klaus Schupp, managing director at Cara, added: “7-10 Waterloo Place is a fantastic addition to our generational portfolio and fits our long-term strategy of investing in high quality, trophy assets in leading global cities across western Europe and the United States. Once again, Taylor Wessing provided us with great support throughout the transaction."
The team was led by real estate partner Adam Marks with the support of real estate senior associate James Oliver, and associates Rebecca Miller and Salome Parayre. Senior counsel Jill Hamilton from the firm's Construction team and senior associate Holly Grundon from the firms planning team also advised on this deal.
Partner Heather Buttle and senior associate Natalie Thorn provided banking and finance advice.
Partner Ronnie Graham led on the corporate side of the work with senior associates Charlotte Chambers and Natasha Cooper, and trainee Johnny Parker supporting.