Eversheds Sutherland financial service team in Italy advised Sorgente SGR, one of the main Italian real estate asset managers, in structuring and setting up its second fund focusing on NPL investments.
 
The new fund (named Fondo Perugino) enriches the offering of Sorgente, one of the few asset managers in Italy which have launched this type of alternative investment funds, in the credit sector.
 
The Eversheds Sutherland team was led by Alessandro Engst and comprised Valerio Lemma, Lorenzo Toppini and Carlotta Riggi.

International legal practice Osborne Clarke has advised national developer and urban regeneration company St. Modwen on a promotion and development agreement for the Tortworth Estate’s Buckover Garden Village, a planned 3,000-home exemplar new community in South Gloucestershire.

Ashurst advised Aberdeen Asset Management Deutschland AG (Aberdeen) on the acquisition of the residential project "Wohnen im Brühl" in the German city of Erfurt. Seller of the project which will offer 50 apartments and 60 underground parking spaces on Bonemilchstraße in Erfurt’s Brühlervorstadt district is the Erfurt-based Dr. Ullrich Real Estate GmbH who will also take care of leasing the units adding up to about 4,650 square metres. Dr. Ullrich Real Estate GmbH wants to start construction this summer. Completion is scheduled for Q3 of 2020.

King & Wood Mallesons advised Thing On Enterprise Limited (Thing On, Stock Code 2292) as its Hong Kong counsel on its global offering and initial public offering (IPO) on the Main Board of the Hong Kong Stock Exchange.

The IPO comprised an issue of a total of 180 million shares being priced at HK$1.24 per share, raising gross proceeds of approximately HK$223 million (before the exercise of the over-allotment option).

On 5 January, SCPG Commercial Real Estate Co., Ltd. (“SCPG”) announced that SCPG, China Vanke Co., Ltd (“Vanke”) and Triwater Asset Management Holdings Limited (“Triwater”), through their respective wholly-owned subsidiaries, have reached an agreement with CapitaLand Mall Asia Limited (“CMA”), a wholly owned subsidiary of CapitaLand Limited (“CapitaLand”), to jointly acquire 100% equity and take over corresponding loans of 20 shopping malls at the price of RMB 8.365 billion.

DLA Piper announced today that it counseled a private development team affiliated with Civic Health Development Group (CHDG) in the acquisition, through long-term ground leases, of the Old Cook County Hospital on Chicago's West Side.

The 99-year leases became effective December 31, 2017. They commit the developer to finalizing development and construction plans for the historic building into a combination of residential, retail and office space, through its first phase of redevelopment, with the goal of beginning restoration work in summer 2018.

Mayer Brown JSM represented Principal Financial Group (NASDAQ:PFG), one of Southeast Asia’s largest asset managers, in its proposed acquisition of controlling stakes in CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management from its joint venture partner CIMB Group Holdings Berhad (KLSE:1023), pending regulatory approval.

The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised Philipp Lahm Holding GmbH on the acquisition of a majority in health food producer Schneekoppe.

With a team led by Dr. Thorsten Kuthe, Heuking Kühn Lüer Wojtek advised The Grounds Real Estate Development AG on a reverse IPO by contributing The Grounds Real Estate AG to a shell company. Subsequently, a private placement in Germany was successfully completed with the subscription of 2.2 million shares. The next step will be a dual listing of The Grounds Real Estate Development AG shares in the AltX segment of Johannesburg Stock Exchange. The shares will thus be placed with institutional investors in South Africa.

Ashurst advised Aberdeen Asset Management Deutschland AG (Aberdeen) on the purchase of housing project "LEO - Urban Living" from Kondor Wessels Holding GmbH (Kondor Wessels). 171 apartments with a total of 9,480 square meters of living space are to be built on the approximately 4,700 square meters of land in Berlin, Löwenberger Straße 1, 3, 5. In addition, two commercial units totalling 157 square meters and 40 underground parking spaces are planned. Completion of the project is scheduled for spring 2020.