International law firm Olswang’s London Real Estate team has advised Cornerstone Real Estate Advisers Europe on the purchase of the Davidson Building, a landmark Edwardian building in the heart of London’s Covent Garden. The £66.2m investment forms part of Cornerstone’s strategy to establish a portfolio of core real estate assets across Europe.
Wragge Lawrence Graham & Co's (WLG) Investment Funds team is advising longstanding client Japan Residential Investment Company Limited (JRIC) on a £152.6 million recommended cash offer.
The offer, announced on 13 November 2015, has been made for JRIC by an investment vehicle indirectly wholly owned by Blackstone Funds. It is being implemented by way of a court sanctioned scheme of arrangement under Guernsey Law.
Slaughter and May is advising Derwent London plc on the sale of the freehold interest in Davidson Building, 5 Southampton Street, WC2 to Cornerstone Real Estate Advisers for £66.2 million.
The property comprises 43,100 sq. ft. of office and retail accommodation.
CONTACTS
Real Estate: Jane Edwarde (partner), Simon Bartle (associate), Mark Gulliford (associate), Lee Foxcroft (associate).
King & Wood Mallesons have advised The Stage Shoreditch LLP, a joint-venture established in May this year between Cain Hoy Enterprises, McCourt Global, Galliard Homes and Investec Structured Property Finance, on the subscription of a 21% holding by Chinese real estate developer Vanke in The Stage, a £750 million mixed use development in Shoreditch.
INTERNOS Global Investors (INTERNOS), the pan-European, owner-run real estate fund manager has acquired the Mercure Hotel in the centre of Hannover for INTERNOS Hotel Immobilien Spezialfonds (INTERNOS Hotel Special Fund). King & Wood Mallesons’ (KWM) hotel team advised INTERNOS Hotel Special Fund on the transaction.
The seller was a fund managed by E&P Real Estate GmbH & Co. KG, based in Cologne, Germany. The hotel is leased on a long term basis to the ACCOR Hotel group.
Macfarlanes has advised private property development and investment management company Rocket Investments on securing a £240m loan facility to finance the development of The Atlas Building, City Road, London EC1.
The development is due for completion at the end of 2018 and will comprise a mixture of high-end residential, office and retail space.
Macfarlanes has advised newly-formed real estate investment trust Regional REIT on its listing on London Stock Exchange’s main market with an initial market capitalisation of £274m.
Regional REIT was created by the merger of two existing funds and will be managed by Toscafund (investment manager) and London & Scottish (asset manager). It currently owns around 130 commercial properties in cities around the UK and will invest predominantly in the office and industrial sectors outside of London.
Site To Be Used For Over 700 New Homes
The Real Estate team within the Sheffield office of leading law firm, Irwin Mitchell, has advised long-standing client Hallam Land Management Limited and its joint-venture partner The Harpur Trust on a multi-million pound land sale to Bovis Homes and Linden Homes.
Gide has advised an investment fund managed by Swiss Life Reim on the acquisition of a portfolio of seven hotels from Chequers Partenaires and Honotel Développement.
Our team comprised partner Nadège Nguyen and Alice Mayer on M&A aspects, partner Laurent Modave and Alexandre Bochu on tax aspects, counsel Laetitia Lemercier and Aurélien de Castéja on financing aspects.
CMS has advised regular client Algonquin SA, the Belgium-based hotel investor and asset manager, on its latest major multi-jurisdictional transaction. A consortium consisting of Benson Elliot, Walton Street Capital and Algonquin has acquired a portfolio of eight prime hotels in key European gateway cities across five countries for approximately €420 million from the US REIT, Host Hotels & Resorts, Inc. CMS advised Algonquin on their joint venture aspects of the acquisition.