Clifford Chance advised IVG Institutional Funds GmbH (IVG) on the acquisition of Eurotower, an office building in Frankfurt, by way of a share deal. The seller is RFR Holding GmbH who will retain a minority share in the property. So far, this is one of the biggest real estate transactions on the Frankfurt market in 2015. IVG is acquiring the office building on behalf of a German pension scheme.
Castellum and Heimstaden have completed a transaction involving property values worth SEK 2.4 billion, comprising 27 properties totalling 186,668 square metres in Norrköping, Linköping, Örebro and Solna, Sweden.
The Gulf region group Abdul Latif Jameel Energy and Environmental Services (“Abdul Latif”) has entered an agreement to acquire Fotowatio Renewable Ventures (FRV), a Spanish solar energy company.
This is the first major sale of a Spanish group in the solar energy sector and the second in the renewable energy sector, since the reform of the Spanish energy sector in 2014.
Abdul Latif will buy Fotowatio’s shares from (i) Denham Capital; (ii) Qualitas Venture Capital funds, of the Timón group; and (iii) the founding shareholders.
Herbert Smith Freehills has advised Lend Lease in Singapore on its successful S$1.67 billion bid (approx. A$1.6 billion; US$1.2 billion) for a large mixed use site at Paya Lebar, Singapore. The site was awarded to Lend Lease on 1 April 2015, after a competitive tender process by the Singapore Urban Redevelopment Authority. The site will be owned through a joint venture with one of Lend Lease's major global investment partners, with Lend Lease holding a 30% share.
The international law firm BEITEN BURKHARDT has advised Hellenstein SolarWind GmbH, a subsidiary of Stadtwerke Heidenheim AG enterprise group, on the acquisition of another wind farm of eno energy GmbH. The parties have agreed not to disclose the transaction volume.
Clifford Chance has advised European Property Investors Special Opportunities 3 (EPISO3), a fund managed by Tristan Capital Partners, on the acquisition of a German real estate portfolio worth EUR 117.5 million. The properties were sold by three funds managed by DG ANLAGE Gesellschaft mbH.
The portfolio consists of 14 properties predominantly located in Berlin, Frankfurt and Leipzig, covering a total rental space of more than 93,000 square metres.
Heuking Kühn Lüer Wojtek, with a team led by Dr. Michael Dröge and Dr. Sönke Görgens, both from the law firm's Hamburg office, advised Hamburg Trust on the acquisition of the office building "Fleet Office 1." The almost fully rented property, with a surface area of some 9,300 square meters, is close to the city center at Südkanal in Hamburg's City-Süd district. Seller of the building, which is to be completed by the fall of 2015, is Hamburg-based Becken Holding.
Danica Pension, one of Denmark’s largest pension providers, has entered into an agreement with PostNord about the purchase of the main post office, Postterminalen, and the headquarters of Post Danmark located in the heart of Copenhagen next to Copenhagen Central Station.
Danica Pension has purchased the sought-after 39,294 m^2 ground area located in the very centre of Copenhagen from PostNord with the vision of creating an entirely new district with offices, hotels and residences, including residences with service concepts.
Ballast Nedam has sold 75% of its investment in the special purpose company (SPC) of the Zaanstad Penitentiary Institution PPP project to a subsidiary of HICL Infrastructure Company Limited (“HICL”) for the amount of EUR 11,5 million. Clifford Chance Amsterdam acted for Infrared Capital Partners, fund manager of HICL. The amount of EUR 11,5 million comprises an investment in shares and a loan stock subscription obligation payable following construction completion.
An international consortium led by Native Land and comprising Singapore's Temasek and Hotel Properties Limited and Malaysia's Amcorp Properties Berhad have formed a joint venture to acquire Sampson House and Ludgate House from The Carlyle Group, for which contracts have been exchanged.