Arnold & Porter Advises on Joint Venture for European Designer Outlets
London, July 8, 2013 -- Arnold & Porter LLP represented London-based designer brand outlet-center operator the McArthurGlen Group in its recently announced definitive agreement to form a €435m joint venture with the largest mall owner in the US, the NYSE-listed Simon Property Group Inc.
McArthurGlen's joint venture calls for Indianapolis-based Simon Property Group to acquire an ownership interest in six of the 21 properties which McArthurGlen has developed so far in Europe, and also become a partner in its real estate management and divestment companies.
Arnold & Porter fielded a four partner team on the deal across its London, New York and Washington DC offices to advise long-standing client McArthurGlen. Arnold & Porter's London corporate partner Anna Buscall and head of tax Joseph G. Howe III led the firm's legal team, which worked closely with Nabarro corporate partner Peter Williamson and tax partner Nick Burt. Arnold & Porter and Nabarro have teamed together on McArthurGlen matters for more than ten years.
In addition to Ms. Buscall and Mr. Howe, the Arnold & Porter team working on the transaction were New York partner Joshua Berick. They were supported by London associate Benjamin Kieft and consultant Charlotte Cazenove, and Washington DC associates Marian Saxena and John Scala.