We advised FirstGroup on the transaction

Davis Polk advised an affiliate of FirstGroup plc on the sale of 33 properties of its legacy Greyhound property portfolio to affiliates of Twenty Lake Holdings LLC for approximately $140 million.

FirstGroup is a leading private sector provider of public transport services in the United Kingdom. With £4.6 billion in revenue and more than 30,000 employees, its bus and rail operations transported more than 1.4 million passengers a day in the last financial year. First Bus is the second-largest regional bus operator in the United Kingdom, serving two-thirds of the United Kingdom’s 15 largest metropolitan areas with a fleet of approximately 5,000 buses. First Rail, the United Kingdom’s largest rail operator, operates a fleet of 3,800 rail vehicles through four management fee-based train operating companies and two open access routes.

Twenty Lake Holdings is a Stamford, Connecticut-based real estate investment firm.

The Davis Polk real estate team included partner Brian D. Hirsch, counsel Lawrence R. Plotkin and associates Erica C. Berman, Paulina P. Lerner and Jack Goldbrenner. Counsel Michael Comstock and David A. Zilberberg provided environmental advice. Partner Phillip R. Mills provided corporate advice. All members of the Davis Polk team are based in the New York office.

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