James Spence is a partner in the firm’s Real Estate Industry group. James has a broad range of experience in domestic and cross-border real estate investments and M&A transactions, with a focus on operational real estate assets and businesses. He acts for a variety of stakeholders across the real estate sector on all aspects of investments in real estate, including structured sales and acquisitions, joint ventures, real estate funds, and investment management mandates.
James is a member of Goodwin’s PropSci Practice Steering Committee, which is focused on supporting the intersection of real estate and life sciences through thoughtful collaboration across the two practice areas. As a key contributor to the group and Steering Committee, James stays up to date on relevant market trends impacting the PropSci sector to effectively support clients involved in this space. He is also involved in Goodwin’s PropTech Initiative which focuses on the intersection of real estate and technology.
Representative Matters
James’s recent matters include representing:
- BentallGreenOak on the sale of a portfolio of 42 premium logistics assets across four Western European jurisdictions (France, Spain, Italy and Netherlands) for a consideration of around €1.2 billion, via a sale of a structure involving regulated and unregulated, listed and private vehicles
- Gramercy Property Europe (now Clarion Gramercy) on the €1.085 billion sale of a logistics portfolio to a consortium of clients managed by AXA Investment Managers
- Medical Properties Trust on the acquisition of, and shareholder arrangements in relation to, a 46% stake in the Swiss healthcare real estate company Infracore SA. The acquisition valued the real estate (13 Swiss acute care hospital campuses) held by Infracore at around $900 million
- AXA IM – Real Assets backed Kadans Science Partner on the establishment of a development platform with Canary Wharf Group to build Europe’s largest commercial lab building – the transformational 750,000 square feet building will form the first phase in the construction of a world leading health and life sciences hub on an 8.2 acre Canary Wharf site, which will play a key role in establishing London and the UK as a leading destination for the life sciences sector
- Ares Management on various matters, including the establishment of a joint venture relating to the acquisition and on-going development of the Kampus PRS/mixed use site in Manchester and the acquisition of a 70% stake in the Go Native serviced apartment operating business and related joint venture arrangements
- A global alternative asset manager on the establishment of a c. £150 million co-investment vehicle to invest in the acquisition and development of PRS schemes across three central London locations
- HIG Capital in relation to Bayside Capital’s (a credit affiliate of HIG Capital) joint venture with M7 Real Estate to acquire light industrial real estate in the Netherlands
- Kennedy Wilson Europe on its joint venture agreement with AXA Investment Managers, pursuant to which AXA acquired a 50% interest in a portfolio of Irish PRS assets (Alliance, Clancy Quay and Sandford Lodge), comprising 1,173 total units
- Gramercy Property Europe (now Clarion Gramercy) on the establishment and close of Fund III and Fund IV in the flagship Gramercy Property Europe series of pan-European real estate funds targeting investments in logistics assets
Professional Experience
Prior to joining Goodwin, James was a senior associate with Linklaters LLP.
Credentials
Education
Dip LP2004
The Oxford Institute of Legal Practice
BA2003
Oxford University
New College
Admissions
Bars
- England and Wales
Recognition & Awards
James is recognized for excellence by The Legal 500 UK and IFLR1000 for Real Estate Investments and is described by clients as “a true business partner. He will make sure the people with the right expertise get involved”. James has also been recognized as a Law360 Rising Star 2020 for his accomplishments in Real Estate.
Publications
James’s recent article publications include:
- Co-Author, “Joint ventures: Know your negotiation points,” IPE Real Assets, March/April 2020
- Co-Author, “W&I Insurance For Real Estate M&A,” Goodwin Insights, October 2018