Cains acted for Kennedy Wilson (a global real estate investment company listed on the New York Stock Exchange) in connection with its acquisition of 20 UK urban logistics assets totaling 1.3 million square feet by Kennedy Wilson from Leftfield (a multidisciplinary, independent fund manager with a portfolio spanning real estate, private equity, listed equities and venture capital).

The industrial properties, all of which were owned and managed via the Isle of Man, are situated in strong urban logistics locations across the UK, including London and the South East of England, Yorkshire and the Midlands. The portfolio is 100% occupied with in-place rents at a significant discount to current market rates.

The Cains team, which was led by Tristan Head and Stephanie Chew with assistance from Holly McGarrigle, worked in conjunction with Goodwin Procter (UK) LLP. A separate Cains team, led by Mike Edwards with assistance from George Walmsley and Faye Devlin, advised Leftfield on the Isle of Man aspects of the transaction.

Stephanie Chew commented: “We are delighted to assist Kennedy Wilson on this Isle of Man focused acquisition, and it was a pleasure partnering with Goodwin Procter to get this deal over the line. This transaction emphasizes that the Isle of Man continues to be an attractive jurisdiction in which to establish and operate real estate investments and funds, and we at Cains are proud to be at the heart of, and remain associated with such significant real estate transactions in the Isle of Man.”