White & Case LLP has advised Icade on its €600 million bond issue, with a maturity of ten years and an annual coupon of 1.625%.
Icade has simultaneously launched a tender offer on three outstanding bond issues, financed with the proceeds of the new bond issue. The bonds will be admitted to trading on the regulated market of Euronext Paris.
Judgment has today been handed down in the case of Grove Developments Limited v S&T(UK) Limited. The judge has departed from the line of cases starting with ISG v Seevic which are the basis for the practice of contractors’ “smash & grab” adjudications.
The decision is likely to put a large dent in this practice, and will allow employers to challenge, via separate adjudication proceedings, the valuation of a contractor’s payment application, even if no valid payment notice or pay less notice has been issued.
Ashurst advised EQT Real Estate on the signing of a lease agreement with Deutsche Bahn AG for approximately 10,000 square metres of its office building Atricom located on Lyonerstraße 15 in Frankfurt's Niederrad district. EQT acquired the building comprising almost 45,000 square metres of rental space in the summer of 2017 from a property portfolio known in the market as Mars portfolio.
German insurance giant Allianz, represented by Allianz Real Estate, has acquired the office property ATLAS in the trendy new Werksviertel in Munich for companies in the Allianz Group. Vendor is the real estate investor Art-Invest Real Estate. International law firm Clifford Chance has provided legal advice to Allianz Real Estate on this complex and innovative transaction.
Jones Day advised Hamon & Cie (International) SA in connection with a capital increase with preferential subscription rights for the existing shareholders of a maximum amount of €68.1 million. Overall, 94,532,094 new shares were issued for a capital increase amounting to €47.27 million (US$58.99 million) in aggregate. This was the first rights issue on Euronext Brussels in 2018.
Contact: Matthieu Duplat
International legal practice Osborne Clarke has advised InfraRed Capital Partners, a leading global investment manager focused on infrastructure and real estate, on the disposal of its £320 million UK light industrial portfolio to Blackstone and M7 real estate.
The portfolio comprises 4.5m sq ft of light industrial space across 40 properties located mostly in the North West and the Midlands along the M6 corridor. InfraRed created the powerhouse portfolio through multiple acquisitions, the first of which took place in 2014.
Alpha Industrial Holding SA and other vendors have sold a portfolio of logistics properties to Frasers Property Investments. The transaction is worth a total of around EUR 600 million.
The Singapore-based investor is acquiring 16 existing properties in Germany and Austria with a gross rental area of approximately 394,000 square metres, plus 6 development projects comprising 162,500 square metres of rental space. Project development and asset management subsidiary Alpha Industrial GmbH & Co. KG was also sold to Frasers Property Investments.
Ashurst has advised long-standing client Invesco Real Estate on the acquisition and forward funding of a 255-home PRS development in Hounslow, west London, being built by Meyer Homes.
Clifford Chance has advised the real estate investor Frasers Property Europe (FPE) on the acquisition of a EUR 600 million logistics portfolio from Alpha Industrial Holding S. A. In addition, FPE takes over the subsidiary Alpha Industrial GmbH & Co KG, which is responsible for asset management and project development. The transaction is FPE's second major logistics deal in Germany within three months. Frasers recently acquired an Hermes logistics real estate package from ECE. Clifford Chance also advised FPE on this acquisition.
Clifford Chance has advised the real estate investor Frasers Property Europe (FPE) on the acquisition of a EUR 600 million logistics portfolio from Alpha Industrial Holding S. A. In addition, FPE takes over the subsidiary Alpha Industrial GmbH & Co KG, which is responsible for asset management and project development. The transaction is FPE's second major logistics deal in Germany within three months. Frasers recently acquired an Hermes logistics real estate package from ECE. Clifford Chance also advised FPE on this acquisition.