Having advised iii-investments, Munich (Germany), on its entry into the Asian real estate market, Clifford Chance now assisted iii-investments in acquiring four properties in central Tokyo. The investor is a German pension fund which has meanwhile invested more than EUR 100 million in the Asian real estate market (including the money it invested for the first deal).
Ashurst has advised investment manager Castlelake, L.P. (formerly TPG Credit Management, L.P.) on the acquisition of an office park in Munich Dornach. A fund managed by Castlelake acquired the park that had been financed by a syndicate of banks, out of insolvency proceedings together with the NAI Apollo group. NAI Apollo will be responsible for the asset and property management of the park.
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised PNE WIND AG (“PNE”) on the acquisition of three offshore projects from BARD Engineering GmbH.
The three acquired offshore projects are located in the German Exclusive Economic Zone (EEZ) in the North Sea. According to current plans 240 wind energy plants with a capacity of 5 MW each are expected to be built.
Hong Kong, China, – Baker & McKenzie is advising Beijing Enterprises Water Group Limited on its RMB 955 million acquisition of nine raw water, water treatment, water supply and sewage treatment projects, four of which are located in Jiangsu and Zhejiang provinces, one in Fujian province, and four projects in Shandong province in the PRC, from Salcon Berhad, a company listed on the main market of Bursa Malaysia Securities Berhad, and its joint venture company, Salcon Water (Asia) Limited.
The Warsaw-based Dentons real estate team was involved in an advisory capacity in the purchase of Mokotów Nova, an A-class office building in Warsaw. The office building was sold by Ghelamco to the CCP III (Curzon Capital Partners III) investment fund managed by Tristan Capital Partners.
This is already the second deal to be clinched this year with Ghelamco as seller and Dentons advising the purchasing party - the first being the purchase of the Senator building by Union Investment.
Slaughter and May advised Legal & General Property on the real estate investment purchase of two Next distribution units, together with ancillary adjoining land, at Brookfields Park, Manvers Way, near Rotherham from the Tritax Next EZ Unit Trust. Legal & General Property has been granted and acquired long overriding leases, with options to acquire the freehold in 2016, subject to and with the benefit of 25 year FRI occupational leases to Next Group plc.
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Hermes Real Estate Investment Management Limited (Hermes) has acquired from the Metro group a 75 percent interest in a portfolio of 43 cash & carry stores across France, all leased back to Metro Cash & Carry France, by acquiring shares in the real estate investment vehicle (OPCI) holding these properties. The portfolio represents 50 percent of Metro Cash & Carry’s store network in France.
Kirkland & Ellis LLP advised Landmark Partners, a leader in acquiring interests in private equity investments through secondary market transactions, in Nova Capital’s acquisition of a portfolio of businesses within Newell Rubbermaid’s North America Hardware group for USD $214 million. The acquisition, which closed today, was funded through a newly established fund with equity provided by Nova Capital’s limited partners, including Nova and secondary funds managed by Landmark and HarbourVest Partners, LLC.
In the largest of a series of fundraisings and acquisitions for John Laing Infrastructure Fund (JLIF) Nabarro has advised on a share issue and prospectus which is expected to raise up to £240m. This will allow the FTSE 250 international investment company to refinance its bank facility and acquire an additional portfolio of three PPP projects from John Laing Group and John Laing Pension Trust.
Nabarro has advised the BP Pension Fund on a £198m asset swap with M&G Real Estate. As part of the deal M&G Real Estate acquired Riverside Retail Park in Northampton and Wycombe Retail Park, valued at £123m, on behalf of the £2.21bn M&G Property Portfolio aimed at private investors in UK commercial property.
In return, the BP Pension fund received M&G's interests in a Tesco Extra in Dover and a Debenhams store in Taunton, valued at £75m plus a balancing cash payment of £48m net of costs.