Leading international law firm Baker McKenzie has advised Aldar Properties (“Aldar”), an Abu Dhabi based real estate developer, investor and manager, on its AED 400 million investment in two European private real estate credit platforms alongside an Abu Dhabi sovereign wealth fund and Ares Management Corp. ("Ares").
Commenting on this landmark deal, Keri Watkins, Aldar Relationship Partner and Co-Head of Baker McKenzie's Real Estate and Hospitality Practice Group in the Middle East, said: “We are delighted to have supported Aldar on this significant investment which reflects Aldar's commitment to ongoing expansion in both local and cross-border real estate finance markets. This transaction illustrates Baker McKenzie's seamless cross-border and cross-sector service and reinforces our position as a transactional powerhouse."
James Burdett, Corporate and Funds Partner based in London who led the Baker McKenzie team on the transaction, added: “It is always a pleasure working with Aldar and it has been a privilege to have advised on this transaction as Aldar commences its significant and exciting international expansion into new geographies and real estate asset classes. Baker McKenzie's market-leading real estate funds and international tax offering and our global network have allowed us to provide specialist support to Aldar on all aspects of this transaction. We wish all parties to the transaction every success for the future of the platforms."
The Baker McKenzie cross-border and cross-practice team included lawyers from the firm's offices in Abu Dhabi, Dubai, London, and Luxembourg. The team included:
• Corporate and Funds: Patrick McGregor (Senior Associate, Abu Dhabi), Jack Bliss (Associate, London), Jake Fuller (Trainee Solicitor, London), Jean-Philippe Smeets (Partner, Luxembourg), Nastasia Dumitru (Senior Associate, Luxembourg), Lucie Rivera (Associate, Luxembourg)
• Banking and Finance: Oliver Jefferies (Partner, London), Luke Murphy (Of Counsel, London), Rory Tredwell (Associate, London)
• Tax: Diogo Duarte de Oliveira (Partner, Luxembourg), Christophe Martin-Raynaud (Senior Associate, Luxembourg)