Global law firm Reed Smith has advised British Land on its latest mandate to fund manager Internos Global Investors, to manage the €230 million (£193 million) Pillar Retail Europark Fund (PREF). Internos Global Investors, now with €4.1bn under management, will provide PREF with advisory and asset management services.

The Reed Smith team, led by real estate private equity partner Oliver s’Jacob and including associate Thomas Marriott, advised long-standing client British Land on the project to outsource its investment advisory and property management functions regarding PREF to Internos, as part of a larger aim by British Land to exit its investments and operations in Europe.

Also on the deal were Linklaters – in Spain, Portugal and Luxembourg – and SCP Bardavid Tourneur – in France, advising on the employment law aspects of the project; and Uria Menendez, advising on Spanish law aspects of the transfer of assets. Burges Salmon advised Internos Global Investors.

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About Reed Smith

Reed Smith is a global relationship law firm, with more than 1,800 lawyers in 25 offices throughout Europe, the Middle East, Asia and the United States.

For further information, please visit www.reedsmith.com or contact Annabelle Price (Branding & Communication Executive EME) on +44 (0)20 3116 3787.