We have considerable experience in assisting clients in the real estate sector.
We’re able to draw on our teams’ knowledge to provide a full suite of specialist corporate services in the commercial, residential and industrial space. At PraxisIFM we work alongside our clients and their advisors to find the best solution in a constantly-changing sector.
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The Corporate Services team at PraxisIFM was approached by one of the senior team of a large hedge fund which was looking to enter into joint venture agreement with a London-based developer, investor and asset manager. Following a series of discussions with the potential client we worked with them and their advisors to implement the most suitable solution.
PraxisIFM in Jersey established a holding company acting as a joint venture between the parties, which entered into a development agreement with a large independent charitable foundation in the healthcare sector.
Over a 10-15-year period there will be seven development phases of a large mixed-use scheme in Central London. Each phase will be held by a specific subsidiary structure which will sit under the joint venture vehicle and include a Jersey Property Unit Trust and two Jersey companies with the asset being held by a UK LLP.
The team at PraxisIFM in Jersey provides the client with real estate management work supporting strategic decisions, has carried out tax compliance and VAT returns, as well as administration, director, co sec and accounting services. The Group’s London office provides director and registered office services to a number of the client entities.
Our client is a US healthcare real estate investment trust (REIT) which invests in high-quality healthcare, specialising in acute care and community and rehabilitation hospitals. The company has grown to become one of the world’s largest owners of hospitals with facilities in eight countries and across three continents.
We were approached in May 2019 by the client’s UK tax advisor to provide full management services (directors, company secretarial and administration) for eight UK SPVs which each held a privately-owned UK healthcare property.
The PraxisIFM team expanded its relationship with the client later that year when it acquired a further 35 privately-owned hospitals in the UK. PraxisIFM worked with the client, its advisors and the company managing its SPVs on the transfer of these companies under our control as well as in relation to the structuring of these entities and associated legal documentation. We now manage 76 companies in the UK for our client having assisted with subsequent property and SPV acquisitions during 2020/2021.