The Macfarlanes real estate team has advised Stanhope and the purchaser on the acquisition and sublet of the BBC’s Media Village site in West London which was undertaken in conjunction with Mitsui Fudosan UK Ltd (Mitsui Fudosan). The site will now be known as White City Place.
Mayer Brown has advised the Canadian property group, Brookfield, on its acquisition of Center Parcs, a holiday resort operator.
Brookfield acquired Center Parcs’ five holiday villages in the United Kingdom from Blackstone Group, a global investment and advisory firm for an undisclosed sum. Blackstone decided to sell the business after nine years of ownership and the transaction is expected to complete by the end of July.
Retail Estates, a Belgian public regulated real estate company (“B-REIT”) specialised in peripheral retail properties, and listed on the regulated market of Euronext Brussels, on 28 May 2015 successfully completed a capital increase by way of a public offering with preferential subscription rights for an amount of EUR 76,214,270.
Castren & Snellman advised the OP-Vuokratuotto hedge fund, which is a part of the OP Group, in its purchase of a 1,200-residence real estate portfolio from Ilmarinen. This is one of the largest real estate portfolio transactions in Finland in the 21st century. The deal was closed on 2 June 2015.
We advised Sponda Plc in the issue and listing of a EUR 175 million fixed rate unsecured bond. The bond was listed on the NASDAQ OMX Helsinki on 29 May 2015.
Sponda Plc’s team of advisers included Partners Tero Tuomisto and Janne Lauha as well as Associate Niko Johansson.
Heuking Kühn Lüer Wojtek advised WESTGRUND AG on carrying out the voluntary public takeover offer of ADLER Real Estate AG on April 30, 2015. The advice included in particular the creation of the joint reasoned opinions of the Management Board and the Supervisory Board on the takeover offer and the adequacy of the consideration offered. In addition, the team led by Dr.
Freshfields Bruckhaus Deringer has advised Hutchison Whampoa Limited (Hutchison) on its merger with CK Hutchison Holdings Limited (CKH Holdings) and Cheung Kong Property Holdings Limited (CK Property) on its spin-off and listing on the Hong Kong Stock Exchange by way of introduction.
DLA Piper LLP (US) advised W. P. Carey Inc. on implementing an "at-the-market" offering program, pursuant to which W. P. Carey may, from time to time, sell shares of its common stock having an aggregate gross sales price of up to $400 million.
W. P. Carey Inc. is a self-managed real estate investment trust and a leading global owner and manager of commercial properties, primarily net leased to companies on a long-term basis. Through its investment management business, the company also manages a series of non-traded publicly registered investment programs.
A Travers Smith team led by senior partner Chris Hale has advised management on the acquisition by funds managed by Brookfield Property Partners of Center Parcs UK from private equity and real estate funds managed by Blackstone. The transaction sees Brookfield agree to acquire a majority stake in the business with the remaining stake held by management. The transaction is due to complete by the end of July.
Slaughter and May advised McKay Security plc (McKay) on its recent refinancing and simultaneous execution of three secured facilities.
The refinancing increased the scale of McKay's loan portfolio from £155 million to £175 million with Aviva Commercial Finance Limited introduced as a new lender and existing lending relationships maintained with three of McKay's existing lending banks. The refinancing provides an extended maturity profile and secures McKay's borrowings ahead of loan expiries due to commence in 2016.