International law firm CMS has advised UAE property developer Union Properties PJSC (UP) on the sale of its entire 50% stake in district cooling services provider Emicool to Dubai Investments PJSC for AED500m. Dubai Investments PJSC is now the sole owner of Emicool, having already owned 50% of Emicool prior to its latest purchase.
Ropes & Gray has advised Dutch pension fund APG Asset Management on its €450 million joint venture with the US-based Hines Group to develop and retain 1,221 fully serviced ‘build-to-rent’ apartments, alongside shops and cafes, in Cherrywood – a new town development in south Dublin, Ireland.
Slaughter and May advised Redrow plc on the amendment and extension of its existing unsecured revolving credit facility. The facility was extended to 31 December 2022. The participating banks are Barclays Bank Plc, Lloyds Bank plc, The Royal Bank of Scotland plc, Santander UK plc, Svenska Handelsbanken AB and HSBC Bank plc.
Contacts
Financing: Edward Fife (partner), Andrew Chaplin (associate), Kesten Laverty (trainee)
International law firm Taylor Wessing has advised Try Market Halls, a group of UK-based property investors and restaurateurs, on their new upmarket food halls scheme launching in London and across the UK in 2018.
Herbert Smith Freehills is providing various legal services to Chinese-based Melbourne property developer Jinding Australia, which is focusing on becoming one of Australia’s leading property developers.
Over the past 6 months Herbert Smith Freehills has advised Jinding Australia on the expansion of its development portfolio to over $1.3 billion. The company’s recent acquisitions include:
International legal practice Osborne Clarke has advised Barratt Developments on 50:50 joint venture (JV) with Swindon Borough Council to develop approximately 250 hectares at Wichelstowe, South of Swindon. The scheme will deliver around 2,670 new homes over the next 20 years and includes two primary schools, a secondary school and an extensive area of open space.
DLA Piper has advised HanseMerkur Grundvermögen AG on its acquisition of the BBG Office Center located on the Böblinger Flugfeld development site for the open-ended special AIF "HMG Grundwerte Deutschland Südwest."
The seller of the new office building completed in early 2017 and comprising some 7,400 square metres is Böblinger Baugesellschaft. At present, the property is fully let and the volume of the investment totals some EUR 12 million.
DLA Piper has advised the international project developer and fund manager, Tishman Speyer, on the leasing of 9,500 square meters of its recently acquired "Pressehaus am Alexanderplatz," located on Karl Liebknecht Strasse, to the international internet and entertainment group Naspers.
The second major rental agreement in the building has been signed with Naspers and the tower is now fully let. The revitalisation of the building "Pressehaus" will be completed in 2019, and offers loft character office space of approximately 22,000 square meters.
DLA Piper has advised real estate private equity firm Harrison Street Real Estate Capital LLC (Harrison Street) on the establishment of a joint venture with LinkCity, a wholly owned subsidiary of Bouygues UK, for the development of a 435 bed student accommodation scheme in Birmingham.
The £40 million development is financed by UBS, with Harrison Street as the majority equity investor and Linkcity as the minority equity investor. Linkcity will develop and operate the site with Bouygues subsidiaries providing facilities management and construction services.
DLA Piper has advised real estate private equity firm Harrison Street Real Estate Capital LLC (Harrison Street) on the establishment of a joint venture with LinkCity, a wholly owned subsidiary of Bouygues UK, for the development of a 435 bed student accommodation scheme in Birmingham.
The £40 million development is financed by UBS, with Harrison Street as the majority equity investor and Linkcity as the minority equity investor. Linkcity will develop and operate the site with Bouygues subsidiaries providing facilities management and construction services.