Irwin Mitchell’s Real Estate Team has advised Redefine International, the income focussed REIT on its acquisition of a Travelodge Hotel at Lumina Park in Enfield, London, for £10 million. They are a new client For London real estate team
Olswang has advised London & Associated Properties (LAP), the listed UK shopping centre and central London retail property investor, on its recent complex £45m senior and mezzanine facilities from Santander and Europa Capital Mezzanine, the first time LAP has borrowed from either lender.
Burges Salmon's Real Estate specialists have advised existing client Skanska on the sale of a significant development holding in Cambridge to developer Crest Nicholson for £35 million.
The site, in the popular Trumpington area of Cambridge, is sold with planning permission for 274 homes. The land sale follows Skanska’s decision to focus its UK business on other investments, such as infrastructure and commercial developments.
Olswang has advised Capital & Regional, the Main Market listed specialist retail property company, on its recent acquisition of further units in the Mall Fund, the UK dominant community shopping centre fund, for approximately £213 million.
The acquisition, which constituted a reverse takeover under the Listing Rules, will increase the Capital & Regional group's ownership interest in the Mall Fund to 91.82 per cent.
DLA Piper has advised the UBM Realitatenentwicklung Aktiengesellschaft ("UBM") on the successful placement of a €160 million corporate bond. Corporate partner Christian Temmel acted as transaction counsel for the joint lead manager Raiffeisen Bank International AG, IKB Deutsche Industriebank AG and the issuer.
Berlin – Berlinovo Immobilien Gesellschaft mbH has sold a self-managed real estate portfolio which comprises more than 15,000 residential units and over 900,000 square metres of rental space. This makes the transaction one of the biggest real estate deals of 2014 so far. The buyer is a consortium led by Berlin-based Westgrund AG. Berlinovo, a wholly owned subsidiary of the federal state of Berlin, started the sales process for the asset deal last year with a tender organised by Jones Lang LaSalle.
Pinsent Masons advised the Sapphire Consortium on a £100m PFI housing project in Stoke-on-Trent – financial close has been reached on the Stoke Extra Care Housing PFI project. The project involves the construction of 390 apartments in three extra care villages in Burton, Abbey Hulton and Chell in Stoke-on-Trent.
Stoke-on–Trent City Council have entered into a Project Agreement for 25 years with the Sapphire Consortium which is backed by Your Housing Group, Eric Wright Group and Kajima Partnerships Limited.
Wragge Lawrence Graham & Co has advised Empiric Student Property on its £85m admission to the UKLA Official List and trading on the London Stock Exchange's Main Market. The £85m was raised by way of a placing and offer for subscription.
Empiric Student Property plc is a new internally managed REIT focused on investment in premium student accommodation properties in the UK.
The Wragge Lawrence Graham & Co investment funds team, led by corporate partner John Reed, comprised tax specialist partner Elliot Weston and real estate specialist partner Mark Mallon.
Hogan Lovells proudly announces that it has advised American Homes 4 Rent (NYSE: AMH), a leading provider of high quality single-family homes, in its acquisition of Beazer Pre-Owned Rental Homes, Inc., a private REIT originally formed by Beazer Homes USA, Inc. (NYSE: BZH). The acquisition adds more than 1,300 homes located in markets in Arizona, California, Florida, and Nevada to American Homes 4 Rent’s portfolio.
Global legal practice Norton Rose Fulbright has advised a joint venture between Ask Real Estate, Carillion plc and Tristan Capital Partners, on the first phase of a new mixed use development in the historic ‘Greengate’ quarter of Manchester.