Urban Exposure agrees £400,000 JLL fee settlement

Urban Exposure has agreed to pay JLL £400,000 in fees for introducing the debt specialist’s subsidiaries to funder KKR. Urban Exposure subsidiaries entered a five-year £165m joint venture with private equity firm KKR in 2018 to develop housing across the UK. JLL made the claim, following the partnership announcement, two years after Urban Exposure had instructed the agent to source finance for legacy businesses. In a statement, Urban Exposure said it had agreed to pay the fee “to draw the matter to a close”. It said: “Although the company is not a party to the JLL agreement, the board believes that the benefit to the company of concluding this matter and not being drawn into any contentious proceedings justifies the payment by the company of the settlement amount.” The Urban Exposure legacy companies are controlled by executive directors Randeesh Sandhu and Ravi Takhar, with a small stake held by non-executive chairman William McKee.   To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette