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Real Estate & Construction

An affiliate of HHR Euro CV - acquisition of the Sheraton Hotel in Stockholm

18 Nov 2013

Slaughter and May and Mannheimer Swartling, working as a team, advised an affiliate of HHR Euro CV (HHR) on the purchase of the Sheraton Stockholm Hotel in Sweden for approximately EUR 102 million. The transaction was structured by way of the acquisition of the entire issued share capital of the holding company of the property. Mannheimer Swartling also advised on the related EUR 61 million mortgage loan that matures in 2018.

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Olswang advises Capital & Regional on £71.7m sale of Great Northern Warehouse

15 Nov 2013

Olswang has advised long-standing client Capital & Regional plc on the sale of its Great Northern Warehouse property in Manchester to Resolution Property for an initial cash consideration of £71.1 million.

The leisure complex in Manchester city centre has 46 units and is home to an AMC Cinema, the Manchester 235 Casino and the All Star Lanes bowling alley plus 1,255 car spaces.

Clifford Chance advises on landmark high yield Vietnam bond

14 Nov 2013

Clifford Chance has advised Vingroup Joint Stock Company on the United States and New York law aspects of its US$200 million 144a Reg S 11.625% notes due 2018. This was the largest, and only the second US dollar high yield bond issued by a Vietnamese corporate.

Credit Suisse was the sole global coordinator for the notes, which were offered under Rule 144A and Regulation S. Credit Suisse, Deutsche Bank and ING were the joint bookrunners.

Irwin Mitchell Advises On Major Real Estate Acquisition: Offices Of Cameron McKenna

13 Nov 2013

Irwin Mitchell has advised an overseas investor and a privately-owned asset management company, Mercer Real Estate Partners on the acquisition of Mitre House, 160 Aldersgate Street, London EC2 for £64 million.

The building is more than 188,000 sq ft and is currently occupied by international lawyers CMS Cameron McKenna. The law firm is sole tenant and due to vacate the building at the expiry of its lease within two years.

Pinsent Masons advises Miller Cromdale on Aberdeen Food Standards Agency Letting

11 Nov 2013

Pinsent Masons has advised Miller Cromdale on the pre-let of two floors of its Pilgrim House office scheme in Aberdeen to the Food Standards Agency.

The Government agency has taken 12,700 sq ft of grade A office space at the scheme, construction of which is due to start in January ahead of an anticipated completion in September 2014. The lease coincides with the Parliamentary stages of the establishing of the FSA’s successor body, Food Standards Scotland.

Paul Hastings Advises Ultima Hospitality on the Acquisition of Two Hotels Next to the San Francisco International Airport

07 Nov 2013

Paul Hastings LLP represented Ultima Hospitality, a Chicago-based real estate investment and hospitality management group, on the $125 million acquisition of the Westin San Francisco Airport and the Aloft San Francisco Airport. The adjoining hotels are located next to the San Francisco International Airport – one of the world's busiest travel hubs – and 20 minutes from downtown San Francisco. The firm also handled the related $100 million financing from Blackstone.

Linklaters Advises Power Construction Corporation of China on Acquisition of Siemens Subsidiary

05 Nov 2013

Linklaters advised the state-owned power-station builder Power Construction Corporation of China (PCCC) on the acquisition of the tradition-steeped former Siemens AG subsidiary TLT-Turbo GmbH. The parties agreed not to disclose the purchase price. The completion of the takeover is planned for the beginning of 2014, subject to approval by regulatory authorities. PCCC, headquartered in Beijing, specialises in large projects in the power-generation, infrastructure and mining sectors.

Greenland Hong Kong US$700 Million Bonds Offering

01 Nov 2013

Davis Polk advised Greenland Hong Kong Holdings Limited (Greenland Hong Kong), a subsidiary of Greenland Holding Group Company Limited (Greenland Holding), in connection with its Regulation S offering of US$700 million 4.75% bonds due 2016. The bonds were supported by a keepwell deed and a deed of equity interest purchase undertaking from Greenland Holding. Together with Vanke and Poly Real Estate, Davis Polk has advised the three largest real estate companies in PRC (in terms of contract sales in 2012) in their debut international bonds offering this year.