Law firm Appleby acted as Jersey, Guernsey and Isle of Man counsel to TISE listed Atlantic Leaf Properties Limited (ALPL) on the sale of its UK logistics portfolio.
ALPL is an income-focused UK REIT, targeting industrial and logistics property in strategic regions and sectors of the United Kingdom.
The sale involved the indirect disposal of 44 properties for a sale consideration of GBP £242,131,492. Completion of the sale occurred on 26th November 2021.
Appleby have been advising ALPL since 2020 when Appleby acted in the take private of ALPL by way of a members’ scheme of arrangement under Jersey company law.
With Andrew Weaver, Corporate Practice Group Head in Jersey, the global Appleby team was led by counsel Kevin McQuillan assisted by trainee Angharad Prescott. Partner Garry Manley and senior associate Melissa Wong and associate Kimberley Sorbie advised in Isle of Man and partner Stuart Tyler and associate Damian De Klerk advised in Guernsey.
Speaking on the transaction Appleby counsel, Kevin McQuillan (pictured) commented: “We have enjoyed working with the Atlantic Leaf team over the last 18 months and are very pleased to assist on this latest significant transaction for the company. The transaction was, at times, extremely fast moving and we were very pleased to bring to bear our unique Crown Dependency offering to assist Atlantic Leaf in getting this matter to completion.”
Mark Pryce, Finance Director and Executive Director at ALPL noted: “The Appleby team have been with us every step of the way on this very important transaction. The team were always available and across all of the issues that arose on the transaction, put simply, they were superb and we look forward to continuing to work with Appleby in the years to come.”
