Clifford Chance has advised IVG Immobilien AG on the refinancing by Bank of America Merrill Lynch International Limited of the office building complex "THE SQUAIRE" which is located at Frankfurt airport. The loan has a total volume of approximately EUR 470 million and a tenor of five years.
The Bundaberg residential property portfolio managed by BGP Investment (BGP) was refinanced through a €160m loan with a term of seven years extended by BerlinHyp. BGP Asset Management represented by Katharina Geissler, Till Schmiedeknecht and Thomas Drastik have managed the transaction for BGP. The Bundaberg portfolio consists of 4,000 units in Berlin, Schleswig Holstein and North Rhine-Westphalia.
GSK provided comprehensive advice to the listed company DEMIRE Deutsche Mittelstand Real Estate AG Frankfurt/M. in connection with the purchase of a commercial real estate portfolio (comprising 107 properties) as a share deal.
Paul Hastings announced today that it advised the placement agents on Ayala Land, Inc.’s (“Ayala Land”) US$356 million (PHP16 billion) top-up placement.
Ayala Land is a leading diversified property developer in the Philippines. Proceeds of the placement will support Ayala Land’s capital expenditure program for 2015, which is estimated at PHP100 billion.
Olswang has advised real estate developer Mitsubishi Estate on the acquisition of an office building located in Paris (46 rue la Boétie) from one of Invesco Real Estate's funds.
The building is the former headquarters of French daily newspaper Les Echos. With a rental space of approximately 2,400 sqm, it is currently leased to six tenants, among which Allianz Real Estate, The Financial Times and Optimind.
This transaction represents the first real estate investment of Mitsubishi Estate in France.
Ashurst advised Samsung SRA Asset Management ("Samsung SRA") on the acquisition of the 'Silberturm', or Silver Tower, in Frankfurt. Samsung SRA acted, similar to a KVG special fund (Kapitalverwaltungsgesellschaft, capital management company) for various South-Korean institutional investors. The 166-metre-high property was essentially sold by eight special funds managed by IVG Institutional Funds for an undisclosed consideration.
Clifford Chance has advised BNP Paribas REIM Germany on its acquisition of the Art Déco Palais in Munich’s Arnulfstrasse for one of its real estate special funds.
Clifford Chance has advised IVG Institutional Funds on the sale of the "Silberturm" property in Frankfurt (Jürgen-Ponto-Platz 1) and the adjacent building at Gallusanlage 8 as part of a share deal. The property was sold by an investment consortium led by IVG Institutional Funds. The buyer is an Asian investor syndicate managed by Hines. The parties have agreed not to disclose any details of the purchase price.
Slaughter and May is advising Songbird Estates plc (Songbird), the majority owner of Canary Wharf Group plc, in respect of the unsolicited cash offer made for Songbird by Qatar Investment Authority and Brookfield Property Partners L.P. The unsolicited offer that was announced on 4 December 2014 values Songbird at approximately £2.6 billion.
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Herbert Smith Freehills has advised Federation Centres (FDC) on its A$74 million purchase of Currambine Central shopping centre in Western Australia. The convenience shopping centre is located 30 kilometres to the north of Perth in Currambine and includes a Woolworths supermarket, a Dan Murphy’s liquor store, a Grand Cinemas complex and 44 specialty retailers.