Pinsent Mason advises Abstract Securities on Virgin Atlantic's new head office.

Virgin Atlantic has entered into an agreement for lease to occupy the whole of Abstract’s Leonardo development in Manor Royal, just south of Gatwick Airport.

The move follows Virgin Atlantic’s return to profit in 2014 and represents a major letting coup for Abstract who only started their speculative 110,545 sq. ft. Grade A office scheme late in 2014.

Irwin Mitchell’s Construction department has advised IDI Gazeley on the main construction contracts for 581,000 square feet of new distribution warehousing in the UK.
 
IDI Gazeley is constructing distribution warehousing space at G Park Enfield (97,953 sq. ft.), G Park Daventry (297,320 sq. ft.) and Plot 330, Magna Park, Milton Keynes (185,742 sq. ft.).
 

Clifford Chance advised Babcock & Brown LP Retail 39 S.à r.l. & Co. KG und Babcock & Brown LP Retail 40 S.à r.l. & Co. KG on the sale of the Arabella Center Frankfurt. It was agreed not to disclose the purchase price.

The Arabella Center Frankfurt is situated at the Frankfurt business district Niederrad and consists of an office building, a residential building, a hotel and a shopping gallery. The area also comprises parking slots and an underground carpark.

DLA Piper advised Beijing State-Owned Assets Management Co., Ltd. ("BSAM") on its debut offering of US$ 1 billion dual tranche bonds, which closed on Tuesday 26 May. The bonds were issued by BSAM's wholly-owned subsidiary in Hong Kong and have the benefit of a keepwell and liquidity support deed, and a deed of equity interest purchase undertaking provided by BSAM.  The bonds were offered in reliance on Regulation S under the US Securities Act.

Nabarro has advised Stratford City Business District Limited (SCBD), a Joint Venture between Lend Lease and London and Continental Railways Limited, on the first two pre-lets at The International Quarter, the £2.1bn development at Stratford on the former Olympic site.

Dentons’ Real Estate team advised European Property Investors Special Opportunities 3 LP (EPISO 3) fund managed by Tristan Capital Partners on the acquisition of Enterprise Park and adjacent land in Krakow, a Polish regional city.

Enterprise Park is one of the largest office complexes in Krakow, developed by Prague-based Avestus Real Estate between 2012 and 2014. Four A-class buildings were acquired, including three fully-let buildings with a combined GLA of 29,500 sq.m. and one currently under construction.

19 May 2015: Clyde & Co has advised RAK Hospitality Holding (RAKHH), an asset owner and manager of a diverse portfolio of government owned hotels, hospitality and leisure assets in Ras Al Khaimah, in relation to an AED 880 million debt transaction which will be used as acquisition finance to partially fund the purchase of two hotels, Rixos Bab Al Bahr Hotel and the Banyan Tree Al Wadi Hotel. The facility will also be used by RAKHH for the refurbishment of the Hilton and Hilton Resort & Spa in Ras Al Khaimah as well as consolidating and refinancing existing debt.

DLA Piper represented a joint venture between PCCP, LLC, a real estate finance and investment management firm, and Align Real Estate, a commercial real estate developer based in San Francisco, in its acquisition and financing of the commercial and garage units of Bellevue Pacific Center.

Baker & McKenzie and Archers intervened respectively for AEW Europe and Deutsche Pfandbriefbank AG in setting up the mortgage refinancing of the Tour W in the amount of 131 million euro. The Tour W is operated by AEW Europe and the bank refinancing has been arranged and provided by Deutsche Pfandbriefbank AG.

Located at La Défense, the Tour W contains 32 floors and a usable surface area of 38 000 m². It is owned by a group of institutional investors.

Baker & McKenzie advised HOCHTIEF on selling all offshore assets to international marine contractor and long-term partner GeoSea, part of the Belgian DEME Group. The deal included the sale of several modern and highly specialized offshore jack-up vessels. The transaction was basically completed by the end of last week.