Ashurst is advising Astaldi S.p.A. on the sale of 36.7 per cent stake in M5, the operator of Milan's metro line 5, to Ferrovie dello Stato, the Italian state-controlled railway company. Astaldi will retain a 2 per cent stake.

The Ashurst team was led by Milan-based partner Franco Vigliano, assisted by senior associate Annamaria Pinzuti, counsel Elena Giuffre and Fabio Balza (tax), together with associates Federica Periale, Andrea Semmola, Pamela Infantino and Edoardo Bononi.

Trowers & Hamlins has advised The Hyde Group on their first contractual joint venture deal with house builder Hill, to build 287 homes in Brent.

The £150m development of private and affordable homes covers three brownfield sites and has secured planning permission, with construction due to start this month.

The deal involved both public and private sector negotiations that saw the team advising on property and joint venture contracts and long-term property management.

Trowers & Hamlins Partner Amy Shaw, who lead on the deal said:

The transformation of DO Deutsche Office AG (“Deutsche Office”) into a German limited partnership with a limited liability company as general partner (so-called “GmbH & Co. KG”) with alstria Prime Portfolio GP GmbH joining as general partner, as resolved by the General Meeting on 12 July 2016, has come into effect on 9 December 2016 with its entry into the Commercial Register. Upon transformation, the company shall bear the name alstria office Prime Portfolio GmbH & Co. KG.

Baker & McKenzie has advised Varia US Properties AG, a Swiss based real estate company, on the listing of its shares on SIX Swiss Exchange following its initial public offering. Varia hopes to raise CHF 124.7 million in gross proceeds from the offering, priced at CHF 35 per share. The proceeds will be used to buy new properties and to fund additional real estate acquisitions. The shares were listed on 8 December 2016.

Hogan Lovells has advised Intertoll Europe and Aberdeen Asset Management (Aberdeen), on the creation of a joint venture to be known as Intertoll Capital Partners. Hogan Lovells also advised Intertoll on the sale of the seed assets to the joint venture vehicle.

DLA Piper Real Estate partner Ian Brierley has advised Aroland Holdings on what will be the City of London's tallest building, 1 Undershaft. The City of London Corporation granted planning permission last week. Ian provided strategic and other mainstream  real estate advice on the project.

Allen & Overy said today the GBP2.6 billion refinancing, in relation to the combination of housing associations L&Q and East Thames, represents a significant moment in the UK’s social housing sector. Together the organisations create a combined entity that owns and manages over 90,000 homes across the UK.

GSK Stockmann + Kollegen has advised a joint venture consisting of a fund of the Bavarian Pension Fund (BVK) and Hammer Real GmbH, a company of Hammer AG, on the purchase of premises at Hufelandstraße 4-8 and Knorrstraße 138 in Munich. Silence has been agreed on the purchase price. The share of the Bavarian Pension Fund manages the GLL Real Estate Partners GmbH in Munich.

GSK Stockmann + Kollegen has advised a joint venture consisting of a fund of the Bavarian Pension Fund (BVK) and Hammer Real GmbH, a company of Hammer AG, on the purchase of premises at Hufelandstraße 4-8 and Knorrstraße 138 in Munich. Silence has been agreed on the purchase price. The share of the Bavarian Pension Fund manages the GLL Real Estate Partners GmbH in Munich.

Sidley is representing R&F Properties (HK) Company Limited (R&F (HK)) in its conditional agreement with Caesars Korea Holding Company (Caesars) for the formation of a 50-50 joint venture to develop, own and operate an integrated resort in Yeongjong Island, Incheon, South Korea. The Initial Closing of the agreement, subject to certain conditions, is expected to take place in mid-March 2017.