Business law firm Heuking Kühn Lüer Wojtek successfully represented several companies of Sprengnetter group (Bad Neuenahr-Ahrweiler), which is operating in the real estate valuation sector, in a multi-year legal dispute over copyrights, in particular database rights.
Global law firm Norton Rose Fulbright has advised Real I.S., BayernLB's fund service provider specializing in real estate investments, on the acquisition of the Airfield Office project.
The building complex in the Konrad-Zuse-Straße in Böblingen was acquired by way of a forward commitment for its Real I.S. “Regionalfonds Süddeutschland”, a fund for institutional customers. The seller is a joint venture company of Stuttgart-based property developer W2 Development GmbH and investment specialist Competo Capital Partners GmbH in Munich.
International legal practice Osborne Clarke has advised John Laing Environmental Assets Group Limited (JLEN) on the acquisition of an anaerobic digestion (AD) asset, Biogas Meden Limited, for a consideration of £16.2 million which is subject to a post-completion working capital adjustment.
The AD plant is located around 25 miles southeast of Sheffield, South Yorkshire, and was commissioned in March 2016. The plant has a thermal capacity of c. 5MWth and predominantly produces biomethane to be injected to the national gas grid.
Baker McKenzie advised Link REIT ("Link"), Asia's largest real estate investment trust, on its disposal of 12 retail properties amounting to over HK$12.01 billion to a consortium led by Gaw Capital. Link intends to use the proceeds of the sale for new investment opportunities in Hong Kong and first-tier cities on Mainland China.
Last year, Baker McKenzie also advised Link when it sold 17 similar retail assets to a consortium also led by Gaw Capital amounting to HK$23 billion.
Baker McKenzie Amsterdam advised Deka Immobilien, specialist for real estate investments in the Deka Group, with the acquisition of a second logistics centre on the Schiphol Logistics Park. The AMS Cargo Center II, with a size of ca. 32.000 m2 will be finished in the end of 2019, and holds seven units, including 196 parking spaces and a truck parking area with a capacity of 117 trucks. The property was developed in a Joint Venture, by Built to Build and Proptimize. The acquisition was signed on 8 November 2018.
The London Real Estate Industry team advised Angelo, Gordon & Company on the joint venture acquisition for £97.1 million of the 150-year leasehold interest in 1-5 London Wall Buildings, EC2.
The 209,307 sq. ft. Grade II listed London City office complex produces an annual rent of £4 million from 36 tenants including co-working operator London Office Space. Angelo Gordon and its joint venture partner, Endurance Land, are planning to refurbish the historic building by 2022.
The Frankfurt Real Estate Industry team advised Godewind Immobilien AG on the acquisition of two office buildings in Hamburg-Eppendorf and Frankfurt by way of an asset deal. The total transaction volume amounts to €205 million.
The office properties have a total rental area of approx. 74,500 square meters and generate annual rental income of around €9.4 million with a vacancy rate of 21 percent. The transaction is expected be closed by the end of April 2019.
Sidley advised Country Garden Holdings Company Limited(HKEX: 2007) (Country Garden) in connection with its partial repurchase of its existing zero coupon secured guaranteed convertible bonds due 2019. Concurrent with the repurchase, Sidley also advised Country Garden on its issuance of 4.5% secured guaranteed convertible bonds through a wholly-owned subsidiary and a derivative transaction of call spread overlay (consisting of purchased call options and written call options).
Atream, a portfolio management company that specialises in the creation and management of property funds, has sold real estate complex "Thiers Lafayette" as a share deal to AEW Ciloger, acting on behalf of real estate investment vehicle Immo Diversification.
This building, for use primarily as offices, is located within Lyon's Part-Dieu central district. Delivered in 2002 by Sogelym Steiner, the asset covers 13,800 sq.m. over seven floors and is certified "HQE Exploitation". The building is fully leased to four premier tenants.
Ashurst advised Erdo Holding B.V., a portfolio company of DPE Deutsche Private Equity Management III GmbH (DPE) based in Munich on the financing of the acquisition of the Gilden Group (Gilden). Gilden is a leading Dutch roofing business.
Ashurst regularly advises Deutsche Private Equity and already advised DPE on the initital transaction in 2017, when DPE acquired a majority stake in Gilden.