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Real Estate & Construction

Ashurst advises Oxford Properties on A$3.35 billion acquisition of Investa

22 Oct 2018

International law firm Ashurst has advised Oxford Properties Group ('Oxford') on its A$3.35 billion acquisition of 100% of the units in Investa Office Fund ('IOF').

Oxford and Investa Listed Funds Management Limited ('ILFML'), as responsible entity of IOF, have entered into a scheme implementation agreement in relation to a trust scheme pursuant to which Oxford will acquire 100% of the units in IOF for cash consideration of A$5.60 per unit.

Marcus & Millichap completes cross-border acquisition of Primecorp

18 Oct 2018

Marcus & Millichap acquired Primecorp Commercial Realty, Ottawa's largest independent commercial real estate brokerage.

Primecorp has offices in Ottawa, Toronto, Montreal and Gatineau. Under the deal, Primecorp's Ottawa headquarters will remain open but will take the Marcus & Millichap name, while staff in Toronto and Montreal will move to the US parent's offices in those cities.

Marcus & Millichap is the largest US commercial real estate brokerage firm specializing in real estate investment services.

Ashurst is advising Liberty House in relation to its acquisition of four European steel plants from ArcelorMittal

18 Oct 2018

Ashurst is advising Liberty House, part of Sanjeev Gupta's GFG Alliance, in relation to its acquisition of four European steel plants, in Romania, the Czech Republic, Macedonia and Italy, from ArcelorMittal.

The deal represents a landmark transaction for Liberty House, which will almost double the size of Liberty's workforce and global production capacity, giving it a strong presence in the heart of Europe’s key manufacturing regions. The deal is subject to various conditions, including the approval of the European Commission.

KWM advises SCP on acquisition of ten shopping centres across the country

18 Oct 2018

King & Wood Mallesons (KWM) have advised ASX-listed SCA Property Group (SCP) on the acquisition of ten shopping centres across Australia, including a $262.4m fully underwritten institutional placement.

The acquisition takes SCP’s portfolio to more than $3.1 billion, making it the largest convenience-based retail specialist in Australia.

Latham & Watkins Advises Onex and SIG Combibloc Group (SIG) on €1.3 billion IPO of SIG

17 Oct 2018

Latham & Watkins advised Onex portfolio company SIG Combibloc Group AG, a leading provider of aseptic carton packaging solutions for the food and beverage industry, in its listing on the SIX Swiss Exchange and refinancing of its existing debt facilities. The IPO, valued at approximately €1.3 billion, is the largest IPO in Switzerland and the second-largest in Europe to date in 2018, according to Thomson Reuters. Latham leveraged multiple offices and an interdisciplinary team to advise on the transaction.

Wolf Theiss advises Supernova on the Acquisition of 10 shopping centres in Slovenia

17 Oct 2018

Supernova Invest GmbH acquires ten shopping centres in Slovenia from food retail chain Mercator with a rentable area of around 100,000 square metres. The property developer Supernova relied on the legal advice of Wolf Theiss for this acquisition, including due diligence and contract negotiations. Signing of the transaction took place on 12 October 2018; its deal value amounts to EUR 116.6 million.

Ashurst advises DIC Asset AG on issue of €150m corporate bond

17 Oct 2018

Ashurst advised DIC Asset AG (DIC) on the successful issue and placement of another corporate bond, thus having advised DIC on four bond issues and several increases. The corporate bond with a coupon of 3.5 per cent has a volume of €150m and is listed on the official list of the Luxembourg Stock Exchange (Bourse de Luxembourg) and admitted for trading on the regulated market of Bourse de Luxembourg. The bond was placed with institutional investors in Germany via a private placement. It has a term of five years.

Ashurst advises Warburg-HIH Invest on the acquisition of 53,778 square meters of office space in Frankfurt's Europaviertel quarter

17 Oct 2018

Ashurst advised Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) on the acquisition of the DB Brick and DB Tower buildings located within the Europaviertel quarter in Frankfurt by way of a forward deal. The seller is the developer Aurelis.

The office space of both properties amounts to 53,778 square meters and is let to Deutsche Bahn for 20 years. The relocation is scheduled for the end of 2020. The parties agreed not to disclose the purchase price. The works for the DB Tower with a planned height of 60 meters and the DB Brick building have already begun.

Gide advises CDC Habitat on acquiring in consortium 80% of Foncière Vesta

16 Oct 2018

Ampère Gestion, a subsidiary of CDC Habitat, and Swiss Life Asset Managers, Real Estate France, acting on behalf of five institutional investors, have announced an agreement to acquire 80% of Foncière Vesta from ICF Novedis, an SNCF subsidiary. Foncière Vesta owns a portfolio of 4,000 housing units that give priority to SNCF employees.

This is the most significant operation in 2018 in terms of volume on the residential segment of the property asset class.

Dentons advises Harrison Street Real Estate Capital on joint venture to enter the UK build-to-rent sector

16 Oct 2018

London—Dentons has advised US property investor Harrison Street Real Estate Capital on its joint venture with Apache Capital Partners focusing on the UK build-to-rent (BTR) sector. The joint venture will see Harrison Street make its first investments in BTR in the UK. As well as establishing a platform, the joint venture also closed on the financing of a development site in the iconic Liverpool docks.

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