Slaughter and May advised Legal & General Property on the real estate investment purchase of a City of London office and retail building of over 200,000 square feet for approximately £200 million, structured by way of the acquisition of the entire issued share capital of a holding company of the property owning vehicle.
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International law firm Pinsent Masons has advised CareTech Holdings PLC (CareTech), a leading UK provider of specialist social care services, on the refinancing of its £176 million of loan facilities and the purchase of two property portfolios, comprising in total 29 freehold properties for £38 million.
CareTech acquired 28 of freehold assets from The Quercus Healthcare Property Partnership for a cash consideration of £29.5 million. In addition, the company acquired a property in Plymouth from Roborough Properties for £6.5 million.
Ashurst is advising long-standing client Dyas UK Limited in relation to its acquisition of certain oil & gas interests in the North Sea from Cairn Energy. The acquisition is structured as a put and call agreement in relation to Dyas acquiring a 6% interest in two licences known as Mariner West, and an 80% interest in a licence known as Mermaid. The consideration consists of an initial cash payment to Cairn Energy of US$43 million, together with an amount equal to Cairn's expenditure on the licence interests since 31 December 2012.
International law firm Simmons & Simmons has advised ONGC Videsh Limited (“OVL”) on the US$2.64 billion acquisition of the ten percent participating interest (“Acquisition”) in the Rovuma Offshore Block in Mozambique (“Area 1”), from Anadarko Moçambique Area 1 Limitada (“Anadarko”), a wholly owned indirect subsidiary of Anadarko Petroleum Corporation.
Orrick advised an affiliate of Swiss real estate investment firm Gold Tree on the purchase of the headquarters of prominent German media company SKY Deutschland AG in Unterfohring near Munich from Commerz Real AG in a transaction worth €50 million. Commerz Real had developed the building under a hereditary building right agreement, while ownership of the land the office property was constructed on had remained with the township of Unterfohring.
Ashurst advised the Austrian conwert Immobilien Invest SE ("conwert") on the acquisition of an extensive portfolio of residential properties in Germany. The purchase price for the portfolio comprising 4,016 units and a size of 265,815 m² amounts to c. €179 million, including planned investments in the amount of €32.9 million. The properties are mainly located in Berlin, Leipzig and North Rhine-Westphalia. The seller of the portfolio is GE Capital Real Estate Deutschland, a division of General Electric. The closing of the transaction is scheduled for the third quarter of 2013.
DLA Piper has advised Cornerstone Real Estate Advisers on the purchase of 40 Gracechurch Street, a Grade A office building in the City, for £94 million. Cornerstone were acting on behalf of a separate account client.
The transaction was effected by way of a corporate sale of a special purchase vehicle and involved a team of lawyers from DLA's offices in the UK and US.
Paul Hastings LLP, a leading global law firm, announced today that the firm has represented the GWM Group in the approximately €130 million acquisition of Market Central Da Vinci in Rome from AIG/Lincoln Western Europe, a real estate development company. Market Central Da Vinci is the largest purpose-built integrated retail park in Italy, attracting more than 10 million visitors per year and featuring leading international and national retail brands.
Travers Smith corporate partner Will Howard has advised LVMH Moët Hennessy Louis Vuitton (LVMH) on its acquisition of Hotel Saint-Barth Isle de France, working closely alongside LVMH's long standing advisers Chicago based law firm Barack Ferrazzano Kirschbaum & Nagelberg (BFKN).
Hotel Saint-Barth Isle de France is a five star hotel located on the Caribbean island of St Barthélemy which comprises 39 rooms, suites and villas and which has won numerous awards and recently been included in Condé Nast Travelers' Gold List as Best Hotel in the Atlantic & Caribbean Islands.
Squire Sanders has advised PATRIZIA Immobilien AG on the acquisition of a portfolio of 86 German retail properties for institutional investors, in a deal worth €178 million. The properties have been acquired within the context of a structured bidding process which was won by PATRIZIA and which relates to the insolvency assets of DEIKON GmbH i. L.