King & Spalding advises on the sale of the real estate of Hartland International School

King & Spalding has successfully advised NBK Capital Partners Real Estate Fund on the sale of the real estate leased to Hartland International School in Dubai to Elevate, a portfolio company backed by Rava Partners in collaboration with Alta Capital. Hartland International School, founded in 2015, has grown from a start-up into a fully operational and successful educational institution operated by Meraki Education.

King & Spalding advised on the original acquisition of the school’s property in 2017, which was structured as a bespoke conditional sale and leaseback transaction with a lessee affiliated with the original owner, a leading luxury real estate developer in Dubai. Since then, King & Spalding has continued to provide support across all phases of the investment. This has included advising on two cross-border financings and most recently the sale process and exit strategy, ensuring alignment with regulatory and commercial objectives.

The transaction reflects the breadth of legal support provided by King & Spalding throughout the life of the investment, including acquisition and lease structuring, financing and exit execution within the education and real estate sectors. The team of Janus Henderson Emerging Markets Private Investments acted as an investment advisor to the Fund.

NBK Capital Partners Real Estate Fund is a leading investor in the region and has played a significant role in developing premium education infrastructure in the GCC. Janus Henderson Emerging

Markets Private Investments is a wholly owned subsidiary of the Janus Henderson Group a leading global active asset manager.

As of March 31, 2025, Janus Henderson had approximately USD373 billion in assets under management. Hillhouse Investment, a global alternative investment manager, together with Rava Partners’ senior management, established the real assets fund Rava Partners in 2020. Alta Capital is the exclusive operating partner for Rava Partners in India, bringing valuable educational expertise which is of strategic relevance to this transaction.

Since its launch, Rava Partners has committed more than USD3 billion in 18 real estate companies across the Asia Pacific region. Elevate which was established in 2023 by Rava Partners and Alta Capital, specialises in the development and management of premium schools and student accommodation facilities.

The King & Spalding Dubai team advising on this transaction and the full lifecycle of the project included: Mike Rainey (partner), Malek Al Rifai (partner), Asal Saghari (counsel), Alex Barker (senior associate), Husni Al Far (associate) and Sherif Saleh (paralegal).