Siemens Divisional Headquarters, Leiden, The Netherlands, €28,500,000 acquisition

Bedell Cristin acted for 90 North Real Estate Partners LLP (and its associated investors) and certain Middle Eastern investors in relation to the acquisition of the Siemens Divisional Headquarters in Zoeterwoude, Leiden, near Amsterdam for €28,500,000.  The funding for the acquisition of the Dutch real estate was provided by way of a combination of conventional financing and Sharia-compliant financing.  Bedell Cristin, lead by Simon Hopwood (Partner) and Laura Hendrick (Associate), assisted with the Jersey aspects of the establishment of a Sharia-compliant investment structure which included a Jersey limited partnership (similar to a form of mudaraba), the financing arrangements which involved a tawarruq (reverse or monetising commodity murabaha) and the property acquisition.