West law firm Foot Anstey’s Islamic finance team have ended 2013 by advising on another multi-million property deal, taking the value of transactions arranged this year to more than £200m.
The latest is the £40m acquisition of 10 care homes backed by shari’ah-compliant investment advisory firm 90 North Real Estate Partners on behalf of a Middle Eastern client is the latest
The Foot Anstey lawyers helped London-based 90 North, which is chaired by former Dragons’ Den star James Caan, structured the deal as a sale and leaseback with Prime Life, a leading care home operator. 
Islamic finance partner Imam Qazi led the Foot Anstey real estate team that included partner Daniel Halstead and solicitor Zahir Navani.
The team have previously advised 90 North on a number of high-value shari’ah-compliant transactions including the acquisition of The University of Bradford’s Green Student Village for a sum in excess of £40m.
Mr Caan said: “This further demonstrates 90 North’s breadth of real estate knowledge, with this transaction contributing to 90 North’s quadrupling of assets under management since this time last year. We look forward to closing more shari’ah compliant transactions in this sector during 2014.”
Mr Qazi added: “We’ve had a great 2013, having closed over £200m worth of financing and investment deals for shari’ah-compliant banks and Middle Eastern investors. We look forward to a bright 2014.”
Islamic finance is a niche area of expertise for Foot Anstey which has offices in Bristol, Exeter, Plymouth, Taunton and Truro. The firm serves international, national and regional clients.
