Trowers & Hamlins has been engaged by its long-standing client, Ithmaar Development Company (IDC), to prepare a suite of documentation for two sections of the Dilmunia Health Island report in Bahrain – the Seavillas at Dilmunia and the Dilmunia Residences.
Global law firm, Eversheds has advised AIM and CISX-quoted NewRiver Retail Limited ("NewRiver"), a UK REIT specialising in value-creating retail property investment and active asset management, on raising £67 million of gross new equity capital.
The proceeds of the fundraising will be deployed on standalone acquisitions, joint ventures and co-investments.
Nabarro has advised longstanding client, Mitsui Fudosan UK with their development partner Stanhope on the acquisition of One Angel Court in EC2 from US financial services organisation TIAA-CREF. The 200,000 sq ft 21-storey office tower has planning permission for an extensive redevelopment.
The acquisition will strengthen Mitsui Fudosan and Stanhope's portfolio of prime commercial properties and projects in Central London.
Slaughter and May is advising Derwent London plc ('Derwent London') on the launch of an offering of £150 million of convertible bonds due 2019 ('the Bonds').
The Bond offering, which was announced on 17 July 2013, forms part of Derwent London's wider financial strategy to lower its debt costs, extend maturities and provide an appropriate mix of secured and unsecured debt for the Derwent London Group taking advantage of current favourable market conditions.
Speechly Bircham is delighted to have advised established client Caring Homes Group on a transformational corporate structured deal with Griffin-American Healthcare REIT II to dispose of and lease back 44 freehold elderly care properties for a total consideration of £298.5m, to clear Group bank debt and to secure the provision of up to £75m in specific development finance.
Leading international law firm SJ Berwin has advised British Land on the acquisition of Paddington Central for £470m, further cementing the relationship between the firm and one of its longest standing clients.
Paddington Central is a mixed use office and retail site with a hotel. The site also includes land with planning permission for an additional c. 350,000 sq ft of grade A offices. The estate was developed over the course of a number of years by Aviva and Development Securities.”
Ashurst has advised Commerzbank, Germany's second-biggest lender, on the sale by Hypothekenbank Frankfurt A.G. (formerly Eurohypo) of its UK commercial real estate portfolio to a US consortium comprised of certain Wells Fargo & Company entities and certain funds of private equity group Lone Star.
The transaction encompasses the sale of commercial real estate loans and supporting interest rate and currency hedging derivatives totalling in aggregate EUR 5 billion as well as the entire operational business of the London branch of Hypothekenbank Frankfurt A.G.
Ashurst acted for Lai's Holdings (LHL), the founding shareholder of Kadokawa Intercontinental Group Holdings Limited (KIGH), on the proposed sale of the KIGH Group to Hong Kong-listed companies within the Lai Sun Group. eSun will acquire an 85 per cent. stake in the KIGH Group and Lai Sun will acquire a 100 per cent. stake in the properties currently held by the KIGH Group.
Ashurst has advised DIC Asset AG on the placement of its successful second corporate bond issue. The five-year bond has a volume of €75 million, and is listed on the Open Market of the Frankfurt stock exchange in the Prime Standard segment for corporate bonds. The bond has been publicly offered to private and institutional investors in Germany, Luxembourg and Austria.
Clifford Chance advised Investa Immobiliengruppe on the sale of the initial phase of construction of "Schwabinger Carré" in Munich. The section of the building was acquired from Catella Real Estate.