Trowers & Hamlins have advised new client Dar Al Mal, an alternative asset management and financial advisory firm based in Dubai, UAE, on its acquisition of a newly completed student accommodation property in Newcastle.
Dar Al Mal acted as a financial advisor on the structuring and debt arranging for the acquisition of the property on behalf of its clients.
Ashurst has advised Novion Property Group (Novion) on its A$12 billion merger with Federation Centres (Federation) which today created one of the largest real estate investment trusts in Australia, and an ASX top 30 entity with over A$22 billion in assets under management.
The Merged Group is one of Australia's largest retail property groups, with more than 5,000 retailers occupying the 102 retail centres managed by the Group. The merged entity has a market capitalisation of more than A$12 billion.
On 11 June 2015 Lords Justice Longmore, Davis and Sales dismissed an appeal made against Mr Justice Collins' decision to uphold the Secretary of State's grant of planning permission for the 1.45 million square feet redevelopment of the Shell Centre on London's South Bank.
Irwin Mitchell's real estate team has advised Redevco, the European investment manager of high street retail properties, on the acquisition of the former Hanningtons Estate in Brighton. The price was over £50 million and the seller was West Register, part of The Royal Bank of Scotland.
Freshfields Bruckhaus Deringer has advised British Land on its offering of £350m, senior, unsecured, zero coupon convertible bonds due 2020, which was announced 2 June 2015 and closed 9 June 2015.
The Bonds have a zero coupon, and the initial conversion price has been set at a premium of 27.5 per cent above the volume weighted average price of the ordinary shares of the Company between launch and pricing.
The Freshfields team advising on the transaction was led by corporate partner Julian Long and capital markets partner Peter Allen.
A team of Noerr’s Real Estate Investment Group has advised the real property fund manager Activum SG on the sale of the Atrium office complex in Leipzig. The purchaser is the Vienna-based FLE GmbH, a subsidiary of the French LFPI Group.
Gide acted as deal counsel on the issuance of secured notes by Pitch Promotion in an amount of € 30 million bearing 5.80 per cent. interest per annum and maturing on 2 June 2019.
The notes are admitted to trading on the Free Market of Euronext Paris (FR0012698199).
For this transaction, Pitch Promotion was assisted by Invest Securities acting as lead manager and Carmin Finance acting as financial adviser.
Gide’s team was led by partner Hubert du Vignaux assisted by Meriem Semrani.
Heimstaden AB (publ) has carried out a capital increase trough the issue of preference shares, amounting to a total of SEK 750M, to institutional investors and the public in Sweden. The preference shares are to be listed on Nasdaq First North Premier and first day of trading is expected to be the 11th of June 2015. Carnegie Investment Bank AB has acted as sole manager and bookrunner.
Orrick, Herrington & Sutcliffe LLP (“Orrick”) advised the US real estate subsidiary of Tokyu Land Corporation (“Tokyu”), one of the largest Japanese conglomerates, on its significant equity investment in the 425 Park Avenue development project, notably the first full-block office development on Manhattan’s Park Avenue in three decades. This week, a joint venture of Tokyu, developer L&L Holding Company and GreenOak Real Estate secured $556 million in construction financing from MassMutual Financial Group affiliate Cornerstone Real Estate Advisers t
A team from Fieldfisher lead by partner Graeme Nuttall advised Tibbalds Planning and Urban Design Limited ("Tibbalds") on introducing majority employee ownership. Champions of good urban design, Tibbalds is an independent consultancy whose multi-disciplinary team works across planning, urban design and architecture to help create award-winning places and spaces throughout the UK.