International law firm Clifford Chance has advised US investor NorthStar Realty Europe Corp. ("NorthStar") on the sale of Frankfurt's Trianon skyscraper. The purchase price for the sixth-highest skyscraper in the banking metropolis amounts to 670 million euros. The new owner is the South Korean consortium IGIS/HANA Financial Investment.
Baker McKenzie advised GF Casting Solutions, a division of Georg Fischer AG, on the sale of two iron casting plants in Singen and Mettmann to Fondium B.V. & Co. KG. The two iron casting plants were divested to Fondium as part of a management buyout, effective retroactively as of 1 December 2018. GF remains a 20% investor for a transition period. The two plants achieved a revenue of approx CHF 620 million with a dedicated workforce of 2000 employees. The new owners will continue all operating activities at the facilities. The parties agreed not to disclose the transaction value.
Ashurst has advised Invesco Real Estate on the share sale of 95 QVS Limited, owner of 95 Queen Victoria Street, London for £72.4 million to the J. Safra Group.
The multi-let, Grade A office property, located less than 200 metres from St Paul's Cathedral, is held on a long lease from the City of London and comprises more than 100,000 sq ft.
The team was led by real estate partner Melanie Jordan supported by senior associate Rudi Hakiman and associate Ellie McCrea.
Senior associate Miles Skinner, UK Transactions at Invesco Real Estate, commented:
Ashurst advised Warburg-HIH Invest Real Estate (Warburg-HIH Invest) on the sale of office property 'Portal 10' in Münster to Patrizia Immobilien AG. The seven-storey 'Portal 10' was built in 2010 and provides 6,562 sqm rental space, which is completely let to several tenants. The transaction was managed by CBRE by way of an asset deal in a structured sales process.
Frankfurt – The international law firm Reed Smith has comprehensively advised NEUE HALBERG-GUSS GmbH on the sale of its business to AVIR Guß Holding.
The parties have agreed not to disclose the purchase price.
Related Professionals: Rolf Hünermann Thomas P. Gierath Andreas Jürgens Volker Kammel Maximilian Santüns Philip Schmidt Marcel Gellings Viktoria Ritter Julia L. Fuchs
Clifford Chance has advised Warburg-HIH Invest Real Estate on the sale of an office property with a total lettable area of around 6,750 m². The property is located in Bad Homburg near Frankfurt. The purchaser is Union Investment. The parties have agreed not to disclose any details of the purchase price.
The single-tenant building was completed in 2014 and initially acquired on behalf of a pan-European special AIF. The lease with IT provider Dimension Data runs until 2024.
The property company Halmtorvet 29 A/S, which is engaged in the investment and development of residential and commercial properties, has sold the new Scandic Hotel situated in the Copenhagen Meatpacking District to Norwegian KLP Eiendom AS.
The transaction value was approx. DKK 610,000,000.
Scandic Hotel has a gross floor area including basement of approx. 23,000 square metres and has 370 rooms, a restaurant/bar, conference centre, fitness facilities, etc.
CMS Budapest has advised real estate developer Futureal Group on the sale of 6 existing office buildings and 2 office buildings currently under construction, together referred to as Corvin office portfolio to OTP Real Estate Investment Fund Management. The transaction is considered to be one of the biggest real estate transactions of this year in Hungary.
The team advising Futureal was led by Gábor Czike (Partner, Head of Real Estate and Construction) and included László Jókay (Associate).
Slaughter and May advised BHP Billiton Petroleum Great Britain Limited on the disposal of its interests in the Bruce and Keith North Sea oil and gas fields and associated infrastructure to Serica Energy (UK) Limited, which completed on 30 November 2018.
The related disposals by BP, Total E&P UK Limited and Marubeni Oil & Gas (UK) also closed on 30 November 2018.
Contacts
Corporate: Richard de Carle (partner), Francesca Harris (associate), Daniel Whitelock (associate)
CMS has advised ISS, a global leading facility services provider, with the divestment of the Dutch single service cleaning activities to CSU, a national cleaning company operating from a number of branches across the Netherlands. The divestment concerns approximately 70 Dutch customers and will see the transfer of around 2,200 employees to CSU. After obtaining approval from the Netherlands Authority of Consumer and Markets (ACM), the transaction has been completed on 18 November 2018.
Integrated facility management solutions