Royalton Group, the global luxury property developer, is delighted to confirm the purchase of one of the most desirable sites in the USA in the exclusive Town of Palm Beach for $43.5million.
Baker & McKenzie is advising The Link Management Limited ("Manager"), manager of The Link Real Estate Investment Trust (”The Link REIT”), on the sale of four retail properties by The Link REIT for a total consideration of HKD1.239 billion. The properties were sold by way of private tender and comprise: (i) the Hing Tin Commercial Centre; (ii) the Kwai Hing Shopping Centre; (iii) the retail and car park within Tung Hei Court; and (iv) the Wah Kwai Shopping Centre. Completion of the sales is scheduled to take place on 31 July 2014.
Nabarro has advised longstanding client, Primary Health Properties Plc, one of the UK's largest providers of modern, purpose built primary healthcare facilities, on the launch of a £82.5 million convertible bond due to mature in 2019.
National law firm Irwin Mitchell’s Real Estate Team has advised key client Gazeley on the sale and forward funding of its latest warehouse development at Magna Park, Milton Keynes to Legal & General Property for a price of £114 million.
Slaughter and May is advising Legal & General Property on the acquisition and forward funding of a new 940,000 sq. ft. Waitrose distribution centre at Magna Park, Milton Keynes. The building will be developed by Gazeley and will become one of the UK’s largest distribution centres. Legal & General Property is acquiring the property subject to and with the benefit of an agreement for lease with Waitrose, who will take a 30 year occupational lease following practical completion of the building.
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Dentons Warsaw real estate team advised on the three largest transactions that took place in Poland in Q1 2014, according to PropertyEU. These included:
* Advising BlackRock Real Estate on the sale of the landmark Rondo 1 office building in Warsaw to Deutsche Asset & Wealth Management’s real estate business for €300 million.
* Advising Globe Trade Centre S.A. on the sale of Galeria Kazimierz in Krakow to Invesco pan-European fund for €180 million.
Olswang has advised Quintain Estates & Development on its acquisition of the units in the Aldermary House Unit Trust, which owns the leasehold interest in Aldermary House, 10-15 Queen Street EC4, for £40.0 million in cash (before rental top-up adjustments).
The ten storey building is centrally located in the City of London opposite Bloomberg Place, the construction site of Bloomberg's new London headquarters, which is scheduled to open in September 2016 and will contain a new entrance to Bank Underground Station.
Olswang has advised long-standing client Heron, the property investment company, on the renaming of the iconic Heron Tower to Salesforce Tower London. Salesforce now occupies four additional floors, which with other terms agreed takes the tower to 90 per cent occupancy. Olswang advised both on the real estate aspects of the transaction and the naming rights agreements.
Ashurst acted for the founding shareholders of Greentown China, a Hong Kong-listed property developer based in China, on their sale of 24.6% shares in Greentown China to another Hong Kong-listed PRC property developer Sunac China at a total consideration of approximately HK$6.3 billion. Upon completion, the founding shareholders (Mr Song Weiping, the existing board chairman, and Mr Shou Bainian, the existing chief executive officer) will retain an aggregate of 18.6% shares in Greentown China, while Sunac China will be interested in 24.6% shares.
Ashurst advised HIH Hamburgische Immobilien Handlung GmbH (HIH) on the acquisition of new Philips Germany headquarters in Hamburg and of the recently completed Siemens logistics centre in Krefeld. HIH acquired the commercial properties on behalf of an institutional investor. Both properties were sold by Hamburg-based real estate developer ECE.