Citycon has signed an agreement to sell the shopping centre Strömpilen in Umeå to Niam. The transaction value amounts to approximately EUR 39 million. For further information please see Citycon’s press release here.
Hannes Snellman acted as legal advisor to Citycon. The core team included Safa Mahmoudi, Nimrod Badur and Jessica Bouleau.
Clifford Chance advised West Register PRIME Frankfurt ML GmbH, a subsidiary of The Royal Bank of Scotland plc. (RBS), on the sale of the VAU office complex in Frankfurt to ML Grundbesitz GmbH.
The buyer is majority-owned by Park Lane Capital Managers GmbH, whose managing partner is the Frankfurt-based investor, Manfred Hillenbrand.
Freshfields Bruckhaus Deringer has advised InterContinental Hotels Group (InterContinental) on the sale of its flagship hotel in Hong Kong.
The iconic waterfront hotel located in Tsim Sha Tsui will be sold to a consortium of investors advised and managed by Gaw Capital Partners for US$938m, making it the largest single hotel transaction to take place in Asia.
InterContinental will be retained as manager of the hotel under a long-term contract.
The transaction is expected to close in the second half of 2015.
Houthoff Buruma advised a consortium consisting of, amongst others, Biesterbos, Reggeborgh and Het Fort on the € 76,25 million sale of a large Amsterdam based office building with an office space of 32.000 m² and 438 parking spots, to Israeli based investment company Zabar Group Investments and Menora Mivtachim. The building is currently leased to HEMA (headquarters), VNU and Multisafe Pay.
Houthoff Buruma team included: Lucas Louwerier, Paul Asselbergs, Peter Habraken, Henk Raven.
Volksbank Real Estate has sold several office buildings in Budapest to Convergen Central Europe Kft. International law firm Wolf Theiss advised on sell-side.
Volksbank Real Estate Services GmbH has successfully closed the sale of three well-known office buildings in Budapest, Hungary. The portfolio consists of the Danube center, the Kálvin center and Baross 52 with a combined gross rental area of 30.000 square meters – all three buildings fit into the buyers' strategy to invest into central located buildings in the CEE regions' major cities.
Addleshaw Goddard has advised longstanding client Diageo on the sale of the Gleneagles Hotel for an undisclosed sum to private investment company, Ennismore.
The deal, which completed on the 30th June, was led by Andrew Rosling, the head of the firm's Retail & Consumer sector team, supported by corporate associate Matthew Hann and Jonny Brooks. Partner Adrian Collins advised on the real estate aspects of the deal, supported by Rebecca Tonkin and Jenny Te and Chris Ingram worked on various ongoing commercial arrangements. Guy Norfolk and an MMS team advised Ennismore.
In a challenging business environment Commerzbank AG managed to sell a portfolio of mainly non-perfoming loans of its subsidiary Hypothekenbank Frankfurt AG (formerly Eurohypo AG). In the transaction the bank once again put its trust in Ashurst. The portfolio of German commercial real estate loans with a nominal value of €700 million was acquired by Oaktree.
Volvo Cars is divesting its component plant in Floby, Sweden, to Amtek Group, a global manufacturer of automotive components. The Floby plant produces brake discs, wheel hubs and connecting rods for passenger cars and commercial vehicles. The plant employs 441 people, all of whom will retain their positions under new ownership. The change of ownership is expected to take place at the end of the calendar year 2015.
Gernandt & Danielsson advises Sterner Stenhus Fastigheter AB, jointly owned by Sterner Stenhus Förvaltning AB and Kvalitena AB, in connection with the divestment of real estate properties in Strängnäs, Sala, Järna and Skinnskatteberg to Amasten Holding AB (publ).
Burges Salmon have advised the sellers of the AUB UK Student Accommodation Fund on the sale of the fund to the Unite UK Student Accommodation Fund (USAF).
The Burges Salmon team, led by Real Estate partner Rick Read, brought together lawyers from the firm’s Corporate, Banking, Tax, Planning, and Construction and Engineering teams, in acting for the sellers of the AUB UK Student Accommodation Fund on the sale of the entirety of the Fund’s portfolio of eight student accommodation properties located throughout the UK for £271 million.