DLA Piper advises Cognita on the promotion and sale of an educational asset to Marquee Capital
DLA Piper has advised Cognita, an international education group, on the development and sale of a building located in Cabrera de Mar (Barcelona) to Marquee Capital, a firm specialised in real estate investment. The asset is intended to become a new international school operated by The British School of Barcelona, a brand belonging to Cognita.
The transaction, structured under a forward purchase and subsequent sale & leaseback model, will allow Cognita to continue operating the educational center once construction is complete, under a long-term lease agreement.
The property will be built on a 16,000-square-meter plot and will have capacity for around 750 students. It will also have BREEAM Very Good environmental certification, in line with current sustainability standards.
The firm team involved in the transaction, primarily in the negotiation of the forward purchase and sale & leaseback agreements, as well as the tax structure of the transaction, consisted of José María Oliva, partner, and Fatima Rico-Villademoros (both pictures), senior associate, both from the Real Estate practice, together with Miguel Baz, partner, and Alberto Lobato, senior associate, from the Tax practice.
