Eversheds Sutherland has advised Park Hotels & Resorts Inc. on its disinvestment in its South African interests. This involved a due diligence process as well as the drafting, negotiation and management of all transactional documentation.
Berlin – Berlin-based Deutsche Asset One GmbH, an asset and investment management service provider for residential property, has acquired a development comprising around 190 apartments, including underground parking, in Regensburg. The seller is a joint venture between Haupt Immobilien, a project developer headquartered in Munich, and Bucher Properties.
Blake Morgan has advised the Kendall Group on its sale to Aggregate Industries, a leading player in the construction and infrastructure industries (and member of the international LafargeHolcim Group).
DWF has advised Starboard Hotels on its acquisition of four Ibis Styles hotels from construction giant Carillion. Starboard is one of the UK's fastest growing independent hotel owner/operators and acquired the four properties in Barnsley, Birmingham NEC, Crewe and Haydock by way of a share acquisition of four hotel-owning companies from Carillion, for an undisclosed sum. The hotels will remain as Ibis Styles and be operated under franchise by Starboard from Accor.
Linklaters Stockholm M&A Real Estate team advised Union Investment Real Estate GmbH in the acquisition of the property Uarda 6 in Solna (Stockholm) by way of a share transfer from the listed company Fabege AB. The underlying property value amounts to SEK 1,2 billion (approx. EUR 120m). The property covers almost 18,000 sq.m. of mostly office space and is let to 95 % and anchored by strong tenants such as Siemens, H&M and Ambea.
Macfarlanes has advised private equity real estate firm Patron Capital on the sale of its stake in luxury housebuilder Cala Homes to joint owner Legal & General Capital.
Legal & General acquired Patron Capital and management’s interests for a total of £315m plus additional transaction costs and financial adjustments to reflect the contribution of management and Patron during the period of the joint ownership.
Welbeck Strategic Land has secured a resolution to grant outline planning consent for a new urban extension in South Worcester having been advised on real estate and planning issues by international legal practice Osborne Clarke.
Due to the location and size of the scheme, over 333 acres which spanned three districts, Welbeck and its professional team has worked to secure planning consent from three councils, including Wychavon District Council and Worcester City Council before concluding with the final planning committee at Malvern Hills District Council on 7 March.
Ashurst advised DIC Asset AG (DIC) on the successful increase of a corporate bond. Ashurst has already advised DIC on four bond issues and several increases.
The corporate bond, which has a coupon of 3.25 per cent and was issued in July 2017, has been increased by a volume of €50 million in a private placement. The bond is listed on the official list of the Luxembourg Stock Exchange and admitted for trading on the regulated market of Bourse de Luxembourg. DIC intends to use the net issue proceeds for general corporate purposes.
Herbert Smith Freehills is advising Shokai Ausbao on its Granville Place project, a $400 million mixed-use development in Granville, Sydney, which is expected to transform the precinct adjacent to Granville station.
The project occupies a large, now consolidated site at 38 Cowper Street, and is currently planned to be delivered in two stages, containing three towers with more than 600 residential units and a supermarket-anchored shopping centre.
Shoosmiths acted as legal advisor to the developers of a landmark £160m skyscraper earmarked for a site in Leeds.
Leeds-based property developer Parklane Group instructed Shoosmiths to provide legal advice for the proposed development, which would total 33 storeys and comprise almost 485,000 sq ft of space.
The proposed INC building, on Wellington Street, would be developed into a mix of commercial, residential and leisure facilities. Plans for the scheme include a 198 unit aparthotel, 163 PRS apartments and 200 co-living apartments.