King & Wood Mallesons SJ Berwin advised Canyon Equity on the recent sale of 5-star hotel “Le Mélézin”, in Courchevel (France), to Lov Group.
Canyon Equity is a US group specializing in the acquisition and development of small ultra-luxury branded resorts in unique destinations around the world. Lov group is an investment holding owned by Stéphane Courbit, which focuses on leisure and digital activities.
International law firm Olswang has advised Quintain Estates & Development on its acquisition of a 21 year leasehold interest in Kingsbourne House at 229-232 High Holborn and part of the adjacent 226 High Holborn for £13.7 million in cash.
Kingsbourne House is a recently refurbished office building situated in a prominent location with excellent transport links. Completion is subject to the landlord's consent, not to be unreasonably withheld, and is targeted to occur within three weeks.
Irwin Mitchell has advised its client, JF Finnegan, on the sale of Elizabeth House on Queen Street in Leeds City Centre to an institutional investor for an undisclosed sum.
The latest deal represents a successful conclusion to JF Finnegan’s involvement in the 25,000 sq ft office building following its decision to acquire and redevelop it in 2011.
Slaughter and May is advising Legal & General Property on the acquisition and forward funding of a new 125,000 sq. ft. office building, including ground floor retail and leisure space, at One New Bailey, Salford. The building forms part of the development of the New Bailey Scheme, which itself forms part of the wider regeneration of Salford Central, which aims to provide 2.37 million sq. ft. of commercial space, 849 new homes and 390 hotel rooms.
King Wood Mallesons SJ Berwin advised Mazabi Gestión de Patrimonios (Mazabi) on the sale of the Abba Queen´s Gate Hotel, located in Kensington, London, to Grecian Hotels, for £40 million.
Mazabi manages investment assets, primarily real estate, with offices in Madrid, Barcelona, Bilbao and Malaga. The company currently manages more than € 600 million of real estate assets through national and international investments.
Squire Sanders team is involved in a US$250 million senior life care community development project, which broke ground on January 28, 2014. The Sinai Residences of Boca Raton and the Jewish Federation of South Palm Beach County anticipate the opening of Life Care Community in 2015. The sponsor has been working on the project since 2007 and features 237 luxury units – of which 70 percent are already reserved. Construction is expected to begin within the next month and closing of the financing should occur this spring.
Baker & McKenzie advised on a €248 million financing agreement for FONDIS, AEW Europe’s French core retail vehicle, that owns a portfolio with current value of approximately €400 million.
This agreement enables the refinancing of the existing borrowings of FONDIS, that matured on December 31, 2013. It also provides a new credit line for which the drawdown period is 3 years.
McDermott Will & Emery LLP represented real estate private equity firm Savanna last week in a deal that will lease 140,928-square-feet to social media powerhouse Twitter in its recently renovated technology corridor located in New York’s Chelsea neighborhood.
Savanna purchased the buildings at 245 and 249 West 17th St. in 2012 and immediately renovated them to serve the growing needs of New York’s technology industry. The two separate buildings, which are more than 110 years old, retain their loft design but now offer a brand new lobby and upgraded, modern amenities.
Global law firm White & Case LLP has advised Klépierre, a leading shopping center property company in Europe, on its proposed disposal of a portfolio of 127 retail galleries to a consortium led by Carrefour and capitalized by institutional investors at €2 billion.
Representing a total area of approximately 476,000 square metres, the portfolio consists of 127 small to medium sized retail galleries, including 57 assets in France (70 percent of the transaction value), 63 in Spain (19 percent of value) and seven in Italy (11 percent of value).
King & Wood Mallesons SJ Berwin has advised Invesco Real Estate on the acquisition of the Queensgate Shopping Centre in Peterborough. The property was bought from property giant Hammerson and insurance firm Aviva Investors for just over £200 million and was in part acquired with debt financed by Aareal.
The 83,300 sq m Queensgate mall, which was built in 1982, holds over 100 shops with tenants spanning from John Lewis, M&S and Primark.