Hannes Snellman acted as counsel to a J.P. Morgan Asset Management fund in its disposal of four office properties to Alma Property Partners I AB in the Keilaniemi business district of Espoo, Finland. The properties have approximately 24,500 sqm of leasable area.

Tapio Teräkivi, Maria Neovius, Heikki Vesikansa, Harri Vehviläinen, Katja Heikkinen, Ninja Heikkilä, Viivu Kilkku and Niina Saranen comprised our core team in Helsinki.

Global Firm Says Deal Will Help Create Employment Opportunities In Sheffield

Outokumpu, the global leader in stainless steel production and distribution, has sold 48 acres of redundant land on Shepcote Lane in Sheffield to Peel Logistics Property.

The company, which employs 10,000 people in more than 30 countries, has confirmed that its operations in Sheffield will remain unchanged following the sale of the site which has been valued at approximately €10m.

Jamie’s Italian venues across Australia have been sold to the Jamie Oliver Restaurant Group, with Herbert Smith Freehills advising Morgan Kelly and Ryan Eagle of Ferrier Hodgson (the receivers and managers of the Keystone Group) on the sale process.

The transaction involves the sale of six Jamie’s Italian restaurants, located in Sydney, Parramatta, Canberra, Brisbane, Adelaide and Perth. Following the collapse of the Keystone Group, Jamie’s Italian International Limited has now taken control of these venues.

Our Manchester office has advised on the £32 million sale of a hotel development in London’s Royal Docks.

The Hampton by Hilton Hotel, which is situated near the ExCel Exhibition Centre, was developed by London Dockside Ltd - a joint venture between Marick Real Estate and Mill Lane Estates.

The seven-storey, 209 bedroom hotel has been bought by Aprirose in a £32 million deal which has appointed hotel management firm Redefine BDL Hotels to manage the property.

DAC Beachcroft has acted for global real estate investment firm Hines on the £485 million sale of its development at Cannon Place.

In its first instruction for Hines, the firm provided real estate advice working in conjunction with US firm Greenberg Traurig, which handled the corporate aspects of the sale.  DAC Beachcroft's team was led by London Real Estate partner Helen Murcott, with support from Dilpesh Shah, Bhavini Patel and Astrid Hardy.

Leading global law firm has advised Migros-Pensionskasse (MPK), the pension fund of Switzerland’s largest retailer, Migros, on the transfer of its Swiss real estate portfolio into Anlagestiftung der Migros-Pensionskasse Immobilien, a newly established investment foundation regulated by the Swiss regulatory body for pension schemes, OAK BV.

The transferred real estate portfolio consists of more than 500 properties located in 17 regions throughout Switzerland. The market value of the portfolio amounts to more than CHF 5.1 billion.

Jones Day advised My Money Bank (formerly GE Money Bank) in connection with the sale of a portfolio of revolving consumer loans to Advanzia Bank.

For additional information about this matter, please contact: Christine Van Gallebaert
Client(s): My Money Bank
Practice(s): Banking & Finance
Office(s): Paris

The Blackstone Group, a US private equity investor, has sold its international student housing portfolio “Union State” to Liberty Living. The purchase price is €540 million. The portfolio sold includes 13 student residences with 6,484 apartments in Germany, Great Britain and Spain.

Hannes Snellman acted as counsel to YIT Corporation in its disposal of Tripla hotel with an aggregate value of approx. EUR 88 million. The hotel will be operated by Sokotel Oy, and the investor will be a new limited partnership managed by Exilion Management Oy with Elo Mutual Pension Insurance Company, Veritas Pension Insurance Company and the State Pension Fund of Finland (VER) as owners.

A cross departmental team at Gowling WLG advised long standing AIM listed client, The Conygar Investment Company PLC ("Conygar") on the disposal of the Special Purposes Vehicles ("SPV's") that owned its investment property portfolio.

The purchaser was Regional Commercial Midco Limited (the "Purchaser"), a wholly owned subsidiary of Regional REIT Limited and the consideration payable attributed a value to the investment property portfolio being sold of approximately £130 million.