Paul Hastings represented Yuzhou Properties Company Limited (“Yuzhou Properties”), a leading property developer in China’s Fujian province listed on the Main Board of the Hong Kong Stock Exchange, in its issuance of US$300 million 8.625% senior notes (“Notes”) due 2019. BOC International, Citigroup, Deutsche Bank and HSBC were the joint lead managers and joint bookrunners.
Mayer Brown has advised Key Property Investments (“KPI”), a 50/50 joint venture between St. Modwen (LSE:SMP), the UK’s leading regeneration specialist, and Salhia Real Estate Company K.S.C (“Salhia”), on the sale of the Elephant & Castle Shopping Centre to Delancey and Dutch pension fund APG.
KPI acquired the Elephant & Castle Shopping Centre, a retail, leisure and office complex of 327,000 sq ft, in May 2002 for £29.25 million.
King & Wood Mallesons SJ Berwin has advised a development consortium, including Hallam Land, David Wilson Homes and Davidsons Developments, on negotiating the section 106 agreement required with Blaby District Council and Leicestershire County Council to secure planning permission for the New Lubbesthorpe development, which includes 4,250 new homes, retail uses, community facilities, schools and employment land to the west of Leicester.
Global law firm Reed Smith announces that a team led by Panos Katsambas and Thomas D. Gommes advised Invel Real Estate Partners (Invel) on its acquisition of a 66% stake in NBG Pangaea Real Estate Investment Company (Pangaea) from the National Bank of Greece (NBG) for approximately €653 million.
Shoosmiths real estate specialists have advised McKay Securities PLC on the £6m freehold purchase of 1 Crown Square, Woking. The national law firm acted for the real estate investment trust (REIT) on the acquisition of the mixed use office and retail property, in Surrey.
Shoosmiths' partner Alan Corcoran advised McKay Securities PLC and was assisted by associate Simon Shoefield and solicitor Georgina Watt (Real Estate), associate Claire Ball (Employment) and solicitor Aaron Richardson (Planning).
Ashurst advised Greenland Group, a major Chinese state-owned real estate developer, on the purchase of the Ram Brewery site in Wandsworth, south-west London, from Minerva. The site is to be redeveloped and will comprise circa 661 homes, including a 36-storey residential tower, as part of a £600 million, 100,000 sq ft scheme that will also include retail, restaurants, bars and a microbrewery.
Norton Rose Fulbright has advised Commerz Real on the £125 million sale of One Snow Hill, a prime office building in Birmingham, to a fund managed by Union Investment, the German asset manager.
Norton Rose Fulbright’s real estate team advised Commerz Real, part of the Commerzbank Group and a long term client of the practice, on all aspects of the sale.
Wong & Partners, a member firm of Baker & McKenzie International in Malaysia, advised 1Malaysia Development Bhd. ("1MDB") on its RM1.225 billion acquisition of a 75 percent stake in the company that owns the Jimah power plant, an independent power producer ("IPP"), and 100 percent of the company providing operation and maintenance services to the power plant.
Slaughter and May advised Wanda Commercial Properties Group ('Wanda Group') on the formation of a joint venture with its parent company, Wanda Commercial Properties (Hong Kong) ('Wanda HK'), for the acquisition and redevelopment of a property located in central London, and a shareholder loan facility of approximately HK$875.6 million granted by Wanda HK to Wanda Group.
Wanda Group's maximum total capital commitment under the joint venture is HK$3,000 million and the transactions constituted a major and connected transaction of Wanda Group under the Hong Kong Listing Rules.
Eversheds has been successful in the Court of Appeal on behalf of two of Europe’s largest property companies, Hammerson plc and Land Securities.
On the 18th of December, Lord Justices Rimer, Kitchin & Christopher Clarke handed down judgement in the case of Re A/Wear UK Ltd (In Administration) [2013] EWCA Civ 1626 which relates to the insolvency of a women’s fashion retailer. The case related to their shops at two of the UK’s largest shopping centres, Cabot Circus in Bristol and Highcross Leicester.