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Real Estate & Construction

Capital increase of Edmond de Rothschild Real Estate SICAV

11 Jan 2016

Lenz & Staehelin acted as counsel to Edmond de Rothschild Real Estate SICAV, one of the major real estate SICAVs in Switzerland, within the capital increase of CHF 80 million of its sub-fund Swiss and the listing on the SIX Swiss Exchange of the new shares on December 11, 2015.

The Lenz & Staehelin team included François Rayroux (Partner) and Laurence Vogt Scholler (Counsel).

KWM drives sale of Brookfield’s Southern Cross Towers valued at $675 million

07 Jan 2016

King & Wood Mallesons has advised Brookfield on the sale of approximately half its share in the iconic Southern Cross Towers complex in Melbourne.

The deal saw Brookfield Prime Property Fund and Brookfield Australia Property Trust together sell a 50% stake in Southern Cross East for $457 million, and Brookfield Prime Property Fund sell a 50% stake in Southern Cross West for $218 million.

The KWM team was led by Partner, Felicity Savage, supported by solicitor, Michelle Tat. Partner, Ken Astridge and Senior Associate, Natalie Goodacre led the financing.

Kungsleden divests remaining holdings in Nordic Modular Group to Inter IKEA Investments

05 Jan 2016

Kungsleden divests its remaining holdings in Nordic Modular Group, approximately 34.5 per cent of the shares of the company, to Inter IKEA Investments with a sales price equal to a valuation of the entire company of SEK 1.45 billion. The transaction is subject to approval by the Swedish Competition Authority and is expected to close no later than 31 January 2016.

Bär & Karrer Advises Swiss Prime Site on the Acquisition of Boas Group's Senior Care Segment

04 Jan 2016

Swiss Prime Site AG (SIX: SPSN), the leading company for real estate investments in Switzerland, is acquiring the "Senior Care" operations of Boas-Yakhin Holding SA, Crissier, through the Tertianum Group. Senior Care is the leading group for medical and social institutions in the assisted living segment in the French part of Switzerland, managing 15 institutions comprising 632 medical beds and 176 apartments. Those activities generated a turnover of approximately CHF 70 million in 2014.

Bär & Karrer advises Andermatt Swiss Alps on its Placement of CHF 50 Million 3.875% Bonds

23 Dec 2015

Andermatt Swiss Alps AG, a company developing, planning and implementing a new luxurious integrated holiday resort in the Swiss mountain village of Andermatt, has completed the placement of CHF 50 Million 3.875% bonds due 2020. The bonds were issued at 100% of their principal amount and, unless previously redeemed or repurchased and cancelled, will mature on 11 December 2020 at 100% of their principal amount. HSBC plc acted as Lead Manager, Bank Julius Bär & Co. AG and Bank Vontobel AG as Senior Co-Lead Managers.

Bär & Karrer advises Orascom on Capital Increase by way of Rights Offering

23 Dec 2015

On 17 December 2015, Orascom Development Holding AG completed a capital increase by approximately CHF 133.8 million (before deducting transaction fees) by way of a rights offering. The new shares were created by cash, conversion of a loan from the company's major shareholder, Samih O. Sawiris, and by conversion of capital contribution reserves into equity. The offer price was set at CHF 11.28 per share, below the nominal value and at a slight premium to the 30 day Volume Weighted Average Price.

Linklaters advised W. P. Carey on the acquisition of the office building Multimedialny Dom Plusa at Konstruktorska Street in Warsaw

23 Dec 2015

Linklaters has acted for its longstanding client, W. P. Carey, a real estate investment trust specializing in corporate sale-leaseback and build-to-suit financing, in relation to the acquisition of Multimedialny Dom Plusa – the headquarters of the giant Polish telecommunications operator, Polkomtel. The seller was Harmony-Warszawa-Konstruktorska sp. z o.o., an entity affiliated with Polkomtel.

Danica Ejendomme acquires the last Tuborg plot

22 Dec 2015

Danica Ejendomsselskab ApS has acquired the so-called "Tuborg Syd" plot in the Copenhagen suburb of Hellerup at a price of DKK 600-700m. Plesner assisted Danica Ejendomme with the transaction.
Danica Ejendomme has acquired the last plot in Tuborg Harbour from Carlsberg A/S. The 106.000 sqm plot is uniquely placed facing Oresund.

The acquisition of the plot is the first part of a new property project that will build approximately 53,500 sqm exclusive rented flats and owner-occupied flats.

It is expected that the project will be finished in 2020.