Herbert Smith Freehills has advised Qatari Diar Real Estate Investment Company, wholly owned by sovereign wealth fund Qatar Investment Authority, on the formation of a £1.4 billion residential property joint venture with Delancey’s flagship client fund DV4 and the Dutch pension fund asset manager APG, by means of the sale of interests in East Village (the former Olympic Village) and the acquisition of interests in the first phase of the Elephant & Castle Town Centre redevelopment.

Berwin Leighton Paisner (BLP) has advised long-standing client King’s Cross Central Limited Partnership (KCCLP) led by Argent (as the development/asset manager for the King’s Cross estate) in relation to two pre-lettings at the R7 building on Handyside Street, London.

The deals involved the pre-lets of 123,000 sq ft over seven floors and reception space to fashion retailer New Look, as well as 28,208 sq ft over three floors to electronic liquidity provider XTX Markets.

Gowling WLG has completed five major transactions for Empiric Student Property Plc (Empiric), with an aggregate value of £269 million.

The firm's corporate, real estate finance and real estate teams were all in action for longstanding client Empiric, the owner and operator of premium student accommodation across the UK.

Corporate partner, and Empiric client partner, John Reed led on a new £125 million equity fund raising with support from associate Emily Troubridge.

Advising Foncière des Murs in connection with the setting-up, along with Caisse des dépôts et consignations, of Foncière Développement Tourisme, a real estate company dedicated to tourist accommodation in France

Membres

* Eric Muller
* Guillaume Rossignol

Gide has advised the real estate investment management company Cleaveland and its shareholders on signing an agreement for its acquisition by the Edmond de Rothschild Group. This acquisition remains subject to approval from the French financial markets authority.

A leading independent real estate asset management company for third parties, Cleaveland covers the entire value-chain of real estate management activities (OPCI management company, asset management and property management) and handles over EUR 2.5 billion of assets.

In March 2016, WDP, assisted by Eubelius, has realised an institutional placement of bonds for an amount of EUR 60 million in two tranches, with a term of ten years each. Fixed rate bonds were issued for approximately EUR 37 million and floating rate bonds were issued for approximately EUR 23 million. The bonds have been admitted to trading on Euronext Brussels.

Union Investment Real Estate acquired the 4-star superior property owned by the Spanish hotel brand "Melia" in Friedrichstrasse in Berlin. The seller is the real estate management company Am Weidendamm Berlin-Mitte mbH. "Meliá Berlin" will be included in the portfolio of the fund "Defo Immobilienfonds 1". With a volume of EUR 790m., the Defo Immobilienfonds 1 portfolio comprises five hotels of various brands.

International law firm Berwin Leighton Paisner (BLP) has completed the lease up of 20 Fenchurch Street, acting for the Canary Wharf/Land Securities joint venture on the letting of the final floor to the Chartered Institute of Securities and Investments.

Dusseldorf –At the beginning of March, the real estate group VGP, which develops projects all over Europe, entered into a 50-50 joint venture with Allianz Real Estate. It chose Luther Rechtsanwaltsgesellschaft mbH as its adviser for the transaction, which has a value of over EUR 500 million. The joint venture will bundle the assets of projects developed by VGP in Germany, the Czech Republic, Slovakia and Hungary. The plan is to continue to develop the logistics and industrial real estate portfolio and to specifically acquire the projects developed by VGP.

C.W. Obel Ejendomme has announced the sale of two commercial properties to PensionDanmark for DKK 555 million.

The two commercial properties consist of a total of approx. 23,600 m2 office space with approx. 4,600 m2 basement. The properties in question are Company House in Skejby and a property located in the middle of Aarhus where BDO is headquartered.

Bruun & Hjejle has advised C.W. Obel Ejendomme.