Lenovo Global Server Division Headquarters, North Carolina, US$130,100,000 acquisition
20 February 2015
Bedell Cristin acted for 90 North Real Estate Partners LLP (and its associated investors) and certain Middle Eastern investors in relation to the acquisition of the global headquarters of Lenovo's Enterprise Server Division at Research Triangle Park in Raleigh, North Carolina, USA for US$130,100,000. The funding for the acquisition of the US real estate was provided by way of a combination of conventional financing and Sharia-compliant financing. Bedell Cristin, led by Simon Hopwood (Partner), Stephen Ferguson (Senior Associate) and Laura Hendrick (Associate), assisted with the Jersey aspects of the establishment of a Sharia-compliant investment structure, the financing arrangements which involved an ijara (a form of lease of ownership) for the property acquisition.