Carey Olsen has advised Singapore-based real estate investment trust manager Cuscaden Peak Investments on the S$1.7 billion sale of 8,192 student housing beds across 19 university cities in the UK and Germany to Mapletree Investments.
The acquisition brings Mapletree’s housing portfolio to 33,000 beds across 47 cities in the UK, the US, Germany and Canada, and makes the Singapore-based real estate investor one of the largest owners of student housing in the UK.
The Carey Olsen cross-border corporate team advising on the Jersey aspects of the transaction comprised Jersey partner Claire Le Quesne (pictured) and Singapore counsel Susan McKinstray, working alongside Singapore law firm Eng and Co. LLC.
Claire Le Quesne said: “Our ability to provide Jersey legal advice on the ground from Singapore differentiates Carey Olsen as the go-to law firm for Asia-based real estate managers investing in the UK. We are pleased to have provided Cuscaden Peak with real-time support in Singapore whilst carrying out this major transaction, which will see the significant expansion of Mapletree’s operations across the UK and Germany.”
