Norton Rose Fulbright has advised on the sale of the Heringsdorf Pier on the German island of Usedom. Norton Rose Fulbright’s real estate team advised Kriton Immobilien Service GmbH (Kriton), which acted as exclusive asset manager for Litos Immobilien AG (Litos) during the sale. The buyer is the fund of a large German insurance company.
Ashurst has acted as Australian legal and taxation adviser to Baby Bunting Group Limited on its initial public offering and listing on ASX, including the preparation of a prospectus lodged with ASIC. The offer involves the issue of new shares to raise approximately A$25 million along with the offer for sale of shares by existing shareholders of approximately A$27 million. At the offer price, Baby Bunting is expected to have a market capitalisation on listing of A$176 million.
Hannes Snellman acted as counsel to Niam in its acquisition of the Kaari shopping centre, the ninth largest shopping centre in Finland, and five freehold plots around the shopping centre. Additionally, the purchaser and the seller, Helsingin Osuuskauppa Elanto, agreed on long term leases of the seller's current premises in the shopping centre.
The transaction is the first 100% sale and purchase of a major shopping centre in Helsinki since 2008.
Our core team in Helsinki comprised of Juha Lindström, Karoliina Koto and Katja Heikkinen.
Following appointment to the Scottish panel in 2013, Shoosmiths real estate team is supporting Bellway Homes in its ambitious investment drive North of the Border, providing expert legal advice on both development acquisitions and plot sales.
Bellway recently announced plans to acquire more than 100 acres of land in Scotland during the coming 12 months, creating roughly 1250 new homes and Shoosmiths are delighted to be able to assist them in achieving this target.
LEG Immobilien AG and Deutsche Wohnen AG have signed an agreement on the business combination of the companies. The combination shall be structured as voluntary offer of Deutsche Wohnen AG to the shareholders of LEG Immobilien AG to tender their LEG shares in exchange for Deutsche Wohnen shares. Deutsche Wohnen intends to offer 3.30 newly-issued Deutsche Wohnen shares in exchange for one LEG share. The newly-issued shares of Deutsche Wohnen AG shall carry dividend rights for the period starting on January 1, 2015.
Herbert Smith Freehills has advised Amundi Immobilier in connection with its acquisition of the €1 billion pan-European office building portfolio "Aqua" from Union Investment. This is one of the largest portfolio transactions of the year with the portfolio consisting of 17 properties located across six different countries (France, Germany, the UK, the Netherlands, Austria and Finland). The assets cover 278,000 sqm and generate a total annual net operating income of approximately €60.2m. Completion is planned for the end of September.
Trowers & Hamlins is pleased to have advised AXA's UK Long Lease Property Fund on the purchase and forward funding of John Lewis's customer delivery hub at Logic Leeds from Muse Developments for £6.2 million. The deal represents one of the most significant investment deals in Yorkshire so far this year and set a record yield for prime, mid-size industrial property.
Litton Property Group has announced a joint venture with motorway service company, Moto, to develop a 3.9 acre site in one of the most connected sites in the East Midlands.
Located at junction 24 of the M1 and adjacent to East Midlands Airport in the heart of the Derby, Nottingham and Leicester triangle, EM Point is available for immediate development.
Clifford Chance advised BNP Paribas Real Estate Investment Management Germany GmbH (BNP Paribas REIM Germany) on the launch of a new real estate special fund and on the acquisition of the first property for the fund's portfolio.
The 'Real Value Fund' was launched together with Cording Real Estate Group and has a target equity volume of EUR 150 million.
The Scottish real estate team at legal business DWF advised Squarestone on a £6.6m investment acquisition of a prime office block at 133 Finnieston Street, Glasgow.