Wragge & Co LLP Real Estate group has advised new client JP Morgan Asset Management – Real Estate (Europe) on a shopping centre acquisition.

A fund advised by JP Morgan Asset Management has acquired Taunton's primary shopping centre comprising 140,000 square feet. The centre will provide short and long-term asset management and redevelopment opportunities.

Real estate partner Sally Pinkerton led the team, assisted by director Teresa Kamppari Baker and associates Lorraine Reader and Tom Barr. Property litigation advice was provided by associate Alison Rivers. Partner Kirsty Jefferies advised on banking and finance issues and Chris Nyland provided support on tax issues.

The property was acquired in conjunction with asset management partners Kirkstone Property Ventures Limited. It was sold by Standard Life Investment Fund Limited, advised by Addleshaw Goddard. Debt was provided by Royal Bank of Scotland, advised by Pinsent Masons.

JP Morgan Asset Management - Real Estate (Europe) is a global asset management provider of investment solutions to clients. With US$1.2 trillion in assets under management, and offices in 40 locations across the world, it has an international presence. The company is a subsidiary of JP Morgan Chase and Co. The firm was instructed following a third-party recommendation. 

Wragge & Co's 27-partner national Real Estate Group is one of the largest full-service real estate teams in the UK. It advises major private and public organisations on matters ranging from asset management to commercial development; planning to tax; and litigation to regeneration. According to the Chambers Client Report 2008 FTSE survey, Wragge & Co Real Estate group is ranked as the joint third largest adviser to the FTSE 100 and joint fifth to the FTSE 250.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Michelle Dolphin on +44 (0)121 213 2369

This press release may contain information of general interest about current legal issues, but does not give legal advice.