With a Frankfurt-based team led by partner Thomas K. Schrell, the business law firm of Heuking Kühn Lüer Wojtek advised R+S group, headquartered in Fulda, on refinancing its existing EUR 100 million syndicated loan.
Heuking Kühn Lüer Wojtek supported the group comprehensively on structuring, negotiating, and implementing the entire financing documentation.
Berwin Leighton Paisner (BLP) acted for Tristan Capital Partners, independent London-based real estate investment management boutique, on its acquisition of a majority 90% interest in a Downing developed and managed 3,636 bed UK student housing portfolio comprising four operational assets (delivered in 2015 and 2016) and four assets in the course of construction (two delivered in September 2017 and the other two in 2018) for the sum of £439m.
The battery project was developed and will be built and maintained by Nottingham-based EvoEnergy. The project will see a Tesla battery added to one of the UK's largest rooftop solar installations at the Telford distribution centre of office supplies company Lyreco, which was also developed by EvoEnergy and is owned by funds managed by Guinness Asset Management.
The 500kW/950kWh Tesla system will be connected to the 3.8MWp solar array, enabling Lyreco to reduce energy costs and increase the site’s energy efficiency.
Hill Dickinson’s corporate and banking teams have advised Liverpool head-quartered developer-operator Downing in connection with securing a £439m investment from an opportunity fund as part of a student housing joint venture.
European Property Investors Special Opportunities IV (EPISO 4), a fund advised by Tristan Capital, has agreed to acquire a 90% stake worth £439m in the joint venture, which owns a 2,756-bed portfolio of six halls in some of the most prestigious university cities across the UK.
Addleshaw Goddard has advised WeWork on a brace of deals which will see the global space, community, and services company lease 40,000 square feet of space in Manchester and a further 30,000 square feet in London. These new locations follow a trio of high profile deals earlier in the year by the firm on behalf of WeWork, including the world's biggest community environment of its kind.
Macfarlanes has advised Supermarket Income REIT Plc on its first three property acquisitions and its related £100 million revolving credit facility with HSBC. Macfarlanes had previously advised Supermarket Income REIT Plc on its IPO onto the Specialist Fund Segment of the Main Market of the London Stock Exchange.
The latest acquisition is of a Sainsbury’s store in Ashford for £80m. This follows the acquisition of two Tesco stores in Thetford and Bristol for approximately £71m in aggregate.
CMS advised NEPI Rockcastle plc on the acquisition of Arena Plaza shopping centre in Budapest, through buying all the issued shares in, and claims against, Symmetry Arena Ingatlankezelo Korlatolt Felelossegu Tarsasag, the owner of Arena Plaza.
With a gross lettable area of 66,000m2, Arena Plaza is the second largest retail centre in Budapest and its EUR 275 million acquisition is considered to be one of the biggest Hungarian real estate transaction this year.
Simmons & Simmons advises on £300 million note issuance by British Land
Simmons & Simmons has advised FTSE 100 Index constituent British Land on its inaugural issuance of £300m 2.375 per cent. Notes due 2029 under its £1bn Euro Medium Term Note Programme. This is the first syndicated note issuance by British Land under its EMTN Programme. The Notes are listed on the London Stock Exchange.
The Simmons & Simmons team was led by Capital Markets partner Piers Summerfield, supported by managing associates Tony Geffin and Leon Yap.
Dentons has advised INTERNOS Spezialfondsgesellschaft on the acquisition of “Seniorencampus Herne-Baukau”, a nursing home property in Herne, Germany, from Dietz & Kaffanke GbR.
The property is currently under construction and is scheduled to be completed in November 2017. It will provide more than 80 nursing home places in single rooms as well as a pharmacy, a general medical practice and a physiotherapy practice. The building has a total area of 4.850 sq. m. and is already leased for 25 years to Protea Care GmbH.
The Ashurst investment funds team advised CapMan Real Estate on the establishment of its second pan-Nordic value-add fund, the CapMan Nordic Real Estate II Fund (CMNRE II).
The fund was oversubscribed and closed at its hard cap of €425 million with commitments from new and existing Nordic, European and US institutional investors. With leverage, CMNRE II has an investment capacity of over €1 billion to be invested primarily across the office and residential sectors in the Nordic region.