The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised the German office of Pemberton, the diversified asset manager, on the financing for the acquisition of Rameder Group, a German automotive supplier, by FSN Capital. In addition to the purchase price, the existing financing of the Rameder Group which was also provided by Pemberton at the end of 2017, will be refinanced.
Kirkland & Ellis advised TPG, a leading global alternative asset firm, on a secondary liquidity transaction for investors in multiple TPG Capital Asia funds with a consortium of buyers led by Lexington Partners. The Kirkland team was led by U.S. investment funds partner Michael Belsley and Hong Kong investment funds partner Damian Jacobs. The aggregate transaction value was approximately $1 billion.
Clifford Chance has advised Warburg-HIH Invest Real Estate on the sale of an office property with a total lettable area of around 6,750 m². The property is located in Bad Homburg near Frankfurt. The purchaser is Union Investment. The parties have agreed not to disclose any details of the purchase price.
The single-tenant building was completed in 2014 and initially acquired on behalf of a pan-European special AIF. The lease with IT provider Dimension Data runs until 2024.
The property company Halmtorvet 29 A/S, which is engaged in the investment and development of residential and commercial properties, has sold the new Scandic Hotel situated in the Copenhagen Meatpacking District to Norwegian KLP Eiendom AS.
The transaction value was approx. DKK 610,000,000.
Scandic Hotel has a gross floor area including basement of approx. 23,000 square metres and has 370 rooms, a restaurant/bar, conference centre, fitness facilities, etc.
Art-Invest Real Estate signed a long-term lease agreement with Deloitte, an international auditing and consulting company, for 13,000 m2 in the office complex ATLAS in Munich’s Werksviertel. After the rental spaces will be completed at the beginning of 2019, Deloitte will move into the first five ATLAS floors. Adding to the existing branch office at Rosenheimer Platz and the Deloitte Digital premises in Werk3, the ATLAS office will be Deloitte’s third presence in Munich’s east.
International legal practice Osborne Clarke has advised Cording Real Estate Group, the European real estate investment and asset management firm, on its second deal for its new £400 million Cording Residential Investment Fund, which invests in the build to rent sector (BTR) on behalf of Continental European investors. Osborne Clarke also acted on the first deal for this fund, a £50 million forward funding of a BTR development in Leicester.
Orrick has advised leading content infrastructure company Contentful on its $33.5 million Series D financing round, led by U.S. investor Sapphire Ventures. The financing round also included new investors Salesforce Ventures and Canadian pensions fund OMERS as well as further investments from existing investors Benchmark, Balderton, Hercules Capital and General Catalyst.
CMS Budapest has advised real estate developer Futureal Group on the sale of 6 existing office buildings and 2 office buildings currently under construction, together referred to as Corvin office portfolio to OTP Real Estate Investment Fund Management. The transaction is considered to be one of the biggest real estate transactions of this year in Hungary.
The team advising Futureal was led by Gábor Czike (Partner, Head of Real Estate and Construction) and included László Jókay (Associate).
Warsaw--Dentons' Real Estate team in Warsaw has advised GLL Real Estate Partners on the acquisition of the iconic Cedet building in Warsaw from Immobel Poland. The transaction value was EU129.5 million. The property was acquired on behalf of a Korean fund managed by GLL Real Estate Partners.
Slaughter and May advised YTL Corporation Berhad on the acquisition by its subsidiary, YTL Hotels & Properties Sdn Bhd, of the entire issued share capital of a Spanish project company, SOL HTL Project, S.L.U., for EUR 220 million. SOL HTL Project is undertaking a real estate development project to convert an existing office building in the centre of Madrid into a 200-room hotel to be operated under the EDITION brand of Marriott International, Inc. at Plaza de Celenque no. 2, 28013 Madrid, Spain.