In a cross-border transaction, Eurazeo Patrimoine has acquired from AccorHotels and other investors 85 hotels under the brands Ibis Budget, Ibis Styles, Mercure, Novotel and Pulman. The volume of the transaction is more than half a billion euros. In the future, the hotels will join the newly created Grape Hospitality Group, a joint venture between Accor and Eurazeo.
The Spanish real estate investment trust (REIT) Quonia joined the Alternative Equity Market (MAB) with assistance from Cuatrecasas. The firm advised Quonia on its initial offering on the MAB, where it debuted at a reference price of €1.65 per share, for a company valuation of €42 million.
The company also requested legal support from the firm in the purchase of Hotel Internacional from the Husa hotel chain for €11 million. The transaction includes hotel business licenses.
Schoenherr Prague has advised an Austrian real estate investor on the recent acquisition of two multifunctional buildings at Revolucni 1 and 3 in the historical centre of Prague, from Irish investment and development company Markland Holdings Limited ("Markland"). The buildings offer 6,300 sq.m. of retail space and 7,700 sq.m. of office space. Schoenherr supported the investor on the due diligence, sale and purchase agreement negotiations as well as on the preparation of other transactional documentation.
International legal practice Osborne Clarke has advised DIF Infrastructure IV ("DIF") on its sale and purchase agreement with SSE PLC ("SSE"). The agreement will see DIF acquire a 100 per cent interest in three UK PFI street lighting projects located in Leeds, Newcastle/ North Tyneside and Stoke on Trent (the “Projects”).
The Projects are availability-based and have been in operation for over five years. The operations and lifecycle will continue to be carried out by an affiliate of SSE under a long-term contract.
ROME (July 21, 2016) – International law firm McDermott Will & Emery represented Integrated Investments SICAV – SIV, part of the London-based alternative investment group Integrated Asset Management plc (Integrated), in connection with the €127 million acquisition of Italian solar photovoltaic plants with a total capacity of 34Mw. The transaction is considered as one of the most significant deals in the Italian energy industry in 2016.
Ashurst advised Samsung SRA Asset Management, assisted by La Française Forum Real Estate Partners, on the €334 million acquisition of the So Ouest office building from Unibail-Rodamco.
Located in Levallois-Perret (France), So Ouest is a fully refurbished 33,250 m² office building, fully let since 2014 to SAP France and Pharmaceutical Research Associates.
The international legal firm Osborne Clarke advised Global Student Accommodation (GSA) on the acquisition of the Headquarter portfolio, including about 1,000 student accommodations, from Devario Invest GmbH.
GSA, a leading provider of student accommodations, creates, manages and finances real estate projects. The acquired Headquarter portfolio includes sites in Munster, Dresden, Darmstadt and Frankfurt. Hereby, the British investor and facility operator enters into the German market and continues its expansion course.
Sidley represented Wells Fargo Bank NA in the purchase of its new European headquarters based in London.
The acquisition of 33 Central is one of the largest London property deals to be sealed since the June 23 Brexit referendum.
Wells Fargo, the world’s largest bank by capitalization, bought the office from Slovak developer HB Reavis who are due to finish construction in the autumn of 2017.
Clifford Chance has advised PATRIZIA Immobilien AG on its acquisition of the "Cloud 9" portfolio from Allianz Lebensversicherungs-AG and Allianz Versicherungs-AG. In addition to the Sprinkenhof building in Hamburg, the portfolio comprises another eight high-end office and commercial properties located in Düsseldorf, Frankfurt, Hamburg, Hanover, Munich and Stuttgart.
International law firm Watson Farley & Williams (“WFW“) has advised Capital Stage, Germany’s largest independent solar park operator listed on the SDAX of the Deutsche Börse, on the acquisition of two Italian solar parks with a total capacity of 11 MWp in the Piedmont region of northern Italy from a leading industrial group.
This transaction represents the first tranche of a larger investment process which will be completed with the acquisition of two additional solar parks in the provinces of Alessandria and Cuneo, also in Piedmont.