Fund structuring, forward funding agreement and £510m equity raise.
- To launch the European fund management arm of Lend Lease by attracting institutional capital to invest in their first fund – Lend Lease Retail Partnership 1997/98.
- Structuring the offer.
- Recommendation of investment vehicle, asset content and preparation of term sheet.
- Pre-marketing presentations on Bluewater construction site to test market offer – retention of Bluewater and Touchwood Centre, Solihull for forward funding but deferment of Dundee scheme.
- Preparation and negotiation of forward funding Heads of Terms.
- Preparation of full marketing road show and all promotion material (full FSA Operator services) – including full PPM.
- Formation of additional offshore feeder funds to cover full investor requirements.
- £510m of equity raised from 21 investors including feeder funds.
- Acted for LP needing early exit by delivering matched bargain transaction at 10% premium to NAV – the first of many secondary transactions to be carried out over the 18 year life of this fund ( 2 – 7 year roll over extensions).