Dentons is representing Ascott Residence Trust (Ascott REIT) in its $158M acquisition of the Sheraton Tribeca New York Hotel. The real estate investment trust is currently under contract to purchase the 369-unit property from FC-Canal Ground Tenant LLC.
Ashurst advised Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) on the acquisition of the mixed-use property development "TurmCarrée" in the city of Frankfurt by way of an asset deal. The property was sold by the Engel and Kolb families. The acquisition was made for the portfolio of the 'TOP 7 Deutsche Metropolen Immobilien Invest' open-ended property special fund, which was set up for institutional investors in cooperation with NORD/LB Norddeutsche Landesbank.
Clifford Chance advised French asset manager Amundi Real Estate, advised by L'Etoile Properties, on the acquisition of the 'Telekom Campus' in Hamburg, Germany. TAS group is the developer of the complex. The parties have agreed not to disclose the purchase price.
On 16 March 2016 at MIPIM the contract for the participatory PPP-project Blue Gate Antwerp was closed. Blue Gate Antwerp (formerly Petroleum Zuid) is a brownfield of about 60 hectares south of Antwerpen. The brownfield will be redeveloped into a high-quality, waterside and eco-efficient business park.
Hogan Lovells has advised long-standing client M&G Real Estate, one of the UK's largest property investors, to fund the construction of Ballymore's Three Snowhill, a 420,000 sq ft office development in Birmingham city centre.
The approximately £200 million scheme will be the largest ever speculative city centre office scheme built outside London.
Clifford Chance advised Geneba Properties N.V. on the acquisition of three industrial and logistic properties leased to automotive suppliers and a logistics provider.
Matheson is advising Saint-Gobain Building Distribution (ROI) Limited in relation to the sale of its JP Corry business in the Republic of Ireland to HPC Management Services Limited. Three JP Corry sites, in Gort, Oranmore and Cahir, are being transferred to HPC as part of the sale. The transaction will not impact the JP Corry business in Northern Ireland, which Saint-Gobain will retain. Contracts have exchanged and completion of the transaction is conditional on clearance from the Competition and Consumer Protection Commission in Ireland.
Castellum has, through its wholly-owned subsidiary Fastighets AB Corallen, acquired 50% of the shares in CORHEI Fastighets AB. On 13 April 2015, Castellum acquired 50% of the shares in the company then known as Henry Ståhl Fastigheter AB (currently CORHEI Fastighets AB); the current acquisition was of the remaining block of shares. The underlying property value is SEK 2,083 million, and the shares were acquired for SEK 555 million.
Roschier represented Sveafastigheter AB in its sale of a EUR 450 million property portfolio in a secondary transaction to asset manager Partners Group and structuring of a continued management arrangement for the Sveafastigheter team regarding the portfolio.
The sold portfolio includes 97 properties in Sweden and Finland incorporating retail, offices and hotels, a total lettable area being 360,000 sqm.