DLA Piper has advised the property fund manager, Savills Investment Management, on the establishment of its new fund Nordic Fund III – Retail, and the fund's subsequent acquisition of four retail parks in Haparanda, Borlänge, Uppsala and Uddevalla in Sweden from IKEA Centres.
DLA Piper advised on the Swedish, German and English law in relation to the acquisition of the retail parks, as well as the financing of the acquisition.
Ashurst advised Deutsche Beteiligungs AG (DBAG) comprehensively on the acquisition and financing of a participation in Sjølund A/S (Sjølund), a leading manufacturer of aluminium and steel components. As part of a management buy-out, DBAG ECF, a fund managed by DBAG, will acquire around 51 percent of the shares in Sjølund from previous sole owner and CEO Søren Ravn Jensen. The remaining 49 percent of the shares will in future be held by Søren Ravn Jensen, who will continue to serve as CEO of the company, and other members of the management.
Willkie represents Apex, a Genstar portfolio company, on this acquisition, which will add $50 billion in assets under administration and custody for the fund administrator.
On January 8, Apex Group Ltd., Genstar Capital and SALU Capital announced Apex's acquisition of Warburg’s Asset Management and Servicing business in Luxembourg. Upon completion of the transaction, Apex, a Genstar portfolio company, will have nearly $350 billion of AuA. Apex and Genstar partnered with SALU Capital on this transaction.
DLA Piper has advised Catella Real Estate AG on its acquisition of an office property in Stuttgart for the special fund IWS II, from German Property AS, based in Oslo, Norway. The building in Stuttgart-Feuerbach has office space of approximately 10,600 square metres, and its main tenant is Robert Bosch GmbH.
The second Catella special fund, focussing solely on Southern Germany, manages four properties. Investors in the fund include pension funds, pension-scheme companies and savings banks, and the target equity ratio is 150 million euros.
Ashurst LLP advised EQT Real Estate on the refinancing of the Smart Parcs building, located in Courbevoie.
As a reminder, the initial acquisition by EQT Real Estate took place in August 2016.
This transaction was completed late December 2017.
Global law firm Dentons has advised Zenium Germany GmbH (“Zenium”), the German subsidiary of data center operator Zenium Technology Partners Limited, on the sale of its data center division to American real estate investment trust CyrusOne. This transaction will strengthen CyrusOne’s presence in London and Frankfurt, the two largest data center markets in Europe. The selling price was €442 million and the closing is scheduled for the first quarter of 2018.
Jones Day acted for iQ Student Accommodation in relation to its acquisition of the UK focused Pure Student Living student housing property portfolio and business from LetterOne Treasury.
Ashurst advised Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) on the sale of the office and commercial building "Kö-Blick" in Dusseldorf's Königsallee 61 to the "Cicerone Fund", an Italian pension fund managed by CBRE Global Investors and Fabrica SGR. The property belonged to the portfolio of an individual fund (open real estate special AIF) of Warburg-HIH Invest. The parties agreed not to disclose the purchase volume.
DLA Piper has advised the commercial REIT alstria office on the sale of an office and business property to Cresco Capital Group, with the purchase price amounting to €44 million. The building, which is located at Eschenheimer Landstrasse 55 in Frankfurt, is let for a remaining period of two years and generates annual revenues of approximately €1.6 million. Alstria expects the transaction to reach its conclusion in the first quarter of 2018.
Cross-border Eversheds Sutherland team advises CyrusOne on its agreement to acquire Zenium Data Centers
Eversheds Sutherland has advised US firm CyrusOne Inc. (CyrusOne), a premier global data center REIT, on its agreement with Quantum Strategic Partners Ltd (Quantum) to acquire Zenium Data Centers (Zenium), a leading hyperscale data center provider in Europe, for $442 million.
Quantum is a private investment fund managed by Soros Fund Management LLC. Zenium has four properties in London and Frankfurt, the continent’s two largest data center markets.