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Asset Sale: Seller's Counsel

Slaughter and May advised Infinis on the disposal of its onshore wind generation and landfill gas generation businesses

03 Aug 2017

Slaughter and May advised the Infinis group of companies, owned by funds managed by Terra Firma, in connection with the disposal of its entire operational and in-development onshore wind generation and landfill gas generation businesses in three separate transactions, as part of the exit of Terra Firma from the group.

The landfill gas generation business was sold on 8 December 2016 to a subsidiary of 3i Infrastructure plc (‘3i’). Under the terms of the agreement, 3i paid Infinis £185 million.

Herbert Smith Freehills advises Astro on A$1.1bn sale

02 Aug 2017

Herbert Smith Freehills has advised Astro Japan Property Trust (Astro) on a proposal by private equity firm Blackstone to buy out Astro’s A$1.1bn portfolio of Japanese retail, office and residential properties.

Astro is an ASX-listed property group focused on the Japanese real estate market.

The Herbert Smith Freehills team was led by partner Justin O’Farrell with support from senior associate, Brock Colville, and graduate, Curtis Vella. Nagashima Ohno & Tsunematsu provided Japanese advice for Astro under lead partner, Rintaro Hirano.

Freshfields advises TPG and Patron Capital on the €622m sale of Merin

28 Jul 2017

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised TPG, the global alternative asset firm, and Patron Capital (‘Patron’) the pan-European institutional investor focused on property-backed investments, on the sale of the Merin office platform in the Netherlands to Canadian REIT Dream Global (‘Dream’) for €622m.

Eversheds Sutherland advises BNP Paribas REIM on the sale of a London office

25 Jul 2017

Eversheds Sutherland has advised the Munich based German team of BNP Paribas Real Estate Investment Management (REIM) on the sale of Pinners Hall to an Asian investor.

The prominent corner building is situated in the heart of the City of London and encompasses just over 10,000 sqm of rental space. Its main tenants are Deutsche Bank, British Bankers’ Association and Banco do Brasil.

Eversheds Sutherland advised on all legal aspects of the sale, including the exchange of contracts within a stringent timescale.

Stephenson Harwood advises Lloyds Bank and Royal Bank of Scotland on train fleet sale

25 Jul 2017

Stephenson Harwood LLP has advised Lloyds Bank plc and the Royal Bank of Scotland plc on the sale of a fleet of passenger train rolling stock to Beacon Rail Leasing.

Pan-European rolling stock lessor Beacon Rail Leasing has completed the acquisition of a fleet of Bombardier Class 220 and Class 221 Voyager diesel-electric units from subsidiaries of Lloyds Bank and the Royal Bank of Scotland. In April 2017, Beacon Rail Leasing was acquired by institutional investors advised by J.P. Morgan Asset Management.

Linklaters has advised Echo Investment SA on the sale of Sagittarius Business House

25 Jul 2017

Linklaters has advised Echo Investment SA (acting through its SPV) in connection with the forward sale of Sagittarius Business House office building in Wroclaw for Warburg-HIH Invest Real Estate GmbH acting on behalf of the German pension fund.

Linklaters Warsaw has provided comprehensive legal advice and support to the seller in all major legal aspects of the deal, from the preparation and negotiations of transaction documents until its signing. The closing of the transaction is subject to fulfillment of customary conditions precedents and is expected to occur in 2018.

Bech-Bruun advises Meyer Bergman on the sale of Copenhagen high-street properties

20 Jul 2017

Bech-Bruun has assisted the London-based investment manager Meyer Bergman in the latter's sale of four Copenhagen high-street properties.

According to ejendomswatch.dk the four properties located at the Copenhagen pedestrian high street "Strøget" were sold at a total price of EUR 62m (approx. DKK 460m) to Hines, the international real-estate firm. Meyer Bergman acquired the properties in 2012, taking possession of more than 3,200 square metres at Købmagergade. None of the four properties is currently vacant.

Houthoff Buruma advised Park 20|20 on the turnkey sale of the NOW office building

20 Jul 2017

Park 20|20 is a Cradle to Cradle-inspired office park in Hoofddorp that is being developed for VolkerWessels and Reggeborgh by the Delta Development Group.
 Houthoff Buruma advised Park 20|20 on the turnkey sale of the NOW office building in Hoofddorp to Standard Life Investments. On completion, the office building was leased to Swiss RE, Macaw and Sony. The purchase price for the NOW building was approximately EUR 22 million. SLI was advised by Loyens & Loeff.
 
Houthoff Buruma team included: Marnix Aarts , Dolf de Jong , Thijs Harperink , Leonoor Brus

Hengeler Mueller advises Axel Springer SE on sale of Berlin properties

17 Jul 2017

Axel Springer SE has successfully completed the sales process of its new Axel Springer building in Berlin which has been designed by Rem Koolhaas (Office OMA) and is currently under construction, as well as of the adjacent Axel-Springer-Passage for a total purchase price of EUR 755 m. Axel-Springer-Passage has been acquired by Blackstone Real Estate Partners Europe V and QUINCAP Investment Partners.