How a joint venture deal was agreed for an Oxford science and business park
When Hermes IM were looking for a joint venture partner they turned to JLL to put them in touch with an investor with the same asset growth aspirations
- JLL Capital Markets
Location
London,
United Kingdom
Shops
£250m
Oxford’s Milton Park is one of the UK’s premier science and business parks. We were tasked with finding owner, Hermes IM, a partner willing to enter into a joint venture, focussed on asset growth.
How we worked together
Recognising it was vital to find our client an investor with similar long-term objectives, we worked together to find the right solution.
We have advised on many business park deals and were able to use our in-depth knowledge of this asset type, together with our global market insights to advise Hermes IM.
It was important to put in place a 50/50 joint venture that offered long-term mutual benefit and the opportunity to grow the asset in future.
Our investment and corporate finance teams adopted a dedicated approach to bring the Oxford business park deal to conclusion.
Resolution
The result was a 50/50 joint venture with Canada Pension Plan Investment Board for circa £250m.
