Global law firm Norton Rose Fulbright has advised longtime client ADLER Real Estate AG in the issuance of a dual tranche bond under New York law with a nominal value of €800m. This is the second largest bond offering in the German real estate sector and the largest European offering rated BB+.
Davis Polk advised China Cinda (HK) Holdings Company Limited (“Cinda HK”) in connection with a private placement of $545 million Regulation S guaranteed senior notes issued by Cinda HK’s wholly owned subsidiary, China Cinda Finance (2017) III Limited. The notes are guaranteed by Cinda HK.
Ashurst advised Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) on the acquisition of "urban view", a residential property development in Heidelberg-Bahnstadt. The Hamburg-based real estate investment manager acquired the project as part of an asset deal for an institutional investor's open-ended special-AIF. The development's seller is LBBW Immobilien Development.
Clifford Chance has advised CA Immo, WPI and another pension fund on the sale of Tower 185 in Frankfurt. Deka Immobilien GmbH is purchasing the office building for EUR 775 million, with CA Immo selling its one-third share. This means that CA Immo is divesting its largest single investment. The transaction is due to complete at the beginning of Q1 2018.
The Cromwell European Real Estate Investment Trust (CEREIT) successfully listed on the Singapore Exchange (SGX) on 30 November 2017. CEREIT is the first euro-denominated real estate investment trust (REIT) and the first REIT with a diversified pan-European portfolio that is listed on the Singapore Exchange. This transaction constitutes the largest REIT IPO in Asia since 2013 by market capitalisation. In order to create this portfolio, the IPO was preceded by several complex real estate transactions in Europe, which were concluded simultaneously and jointly with the IPO.
Greenberg Traurig, LLP represented Hansainvest Real Assets, a Hamburg-based investment manager, in the acquisition of Generation Park X - the first building in the Generation Park complex, a project consisting of three high-quality office buildings located in Warsaw.
Greenberg Traurig provided comprehensive legal advice with respect to the transaction, including preparation of the due diligence process and negotiation of the transaction documentation, including the preliminary and final sale agreement.
Allen & Overy LLP has advised the British EG Group Ltd. (EG) located in Blackburn (UK) on the acquisition of more than 1,000 Esso service stations in Germany and the corresponding brand partnership with ExxonMobil. EG intends to further develop the Esso service station business in Germany on a long-term and strategic basis. The respective contracts were signed yesterday, 28 November 2017. Both parties agreed not to disclose the purchasing price. The closing of the transaction is still subject to approval by the EU antitrust authority.
Berwin Leighton Paisner (BLP) have advised Aberdeen Asset Management Germany as investment manager on the sale of a mixed-used commercial building to DC Values who bought the object for their special real estate fund “DCV Highstreet Nr. 1”.
Advising 90 North Real Estate Partners, an independent and globally operating real estate investment adviser, on the acquisition of two adjacent built-to-suit headquarter office properties now under construction in Hoofddorp.
Eversheds Sutherland advised the Sello Shopping Center in negotiating a contract for the construction of a smart energy system at the shopping center. With the solution, the Sello property will be able to produce energy itself with solar panels. The energy consumption of the property can be automatically regulated by purchasing, storing and consuming energy according to the need of any given time.