European law firm SJ Berwin LLP has advised Kajima Properties (Europe) Limited, subsidiary of Kajima Corporation of Japan, on a joint venture with Nomura Real Estate UK Limited, subsidiary of Nomura Real Estate Development Co., Limited of Japan. Kajima has sold a 50% interest in a Jersey property unit trust established in August 2008, to acquire 5 Savile Row, London for approximately £40 million from ING. Kajima and Nomura have set up a unique structure for the two unitholders.
In addition, Kajima and Nomura have established a parallel joint venture for the purpose of providing strategic management advice and recommendations to the trustees of the JPUT. Operational property management will be provided by Kajima.
Kajima was advised by SJ Berwin real estate associate Mark Mallon and corporate associate Bayo Odubeko. Christopher Coombe and Jonathan Evans, partner at Linklaters, assisted in London by associate Victoria Stoneman and in London and Tokyo by Japanese qualified associate Hirofumi Taba advised Nomura.