Gowling WLG's real estate team has advised a fund advised by Brockton Capital on the corporate sale of its portfolio of nine retail parks to the independent real estate investment management boutique, Tristan Capital Partners.

The sale of the corporate entities, which include Foundry Retail Park in Rotherham, Warrington Riverside Retail Park and Cardiff Gate Retail Park, has been completed in a deal worth c. £250 million. Sally Pinkerton, Gowling WLG's head of international real estate and Matt Walker, director, led the matter which completed on 8 March 2017.

Delphi has advised PURetail Sweden AB in connection with a divestment of three retail properties in central Linköping.

The properties consist of 8,647 sqm lettable area. PURetail Sweden AB is owned by the fund Luxemburg FCP-SIF PURetail managed by av LA Francaise Real Estate Partners International and Aberdeen Asset Management.

Delphi’s team was led by partner Nina Persson, assisted by Olof Hagberg and Linn Eriksson.

Slaughter and May is advising UK Asset Resolution Limited (UKAR) and Bradford & Bingley plc (B&B), working closely with the UKAR legal team, HM Treasury and Treasury Legal Advisers in relation to the disposal, by way of auction, of legacy buy-to-let mortgage assets originated by B&B and its subsidiary, Mortgage Express, to Prudential plc and to funds managed by Blackstone for a total consideration of £11.8bn.

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SINGAPORE, April 3, 2017 – In another major power, energy and natural resources transaction in Asia, Milbank, Tweed, Hadley & McCloy LLP advised a group of international banks in connection with the multi-billion dollar acquisition of certain geothermal assets in West Java, Indonesia. The assets, sold by affiliates of Chevron Corp., have a combined capacity of 650 megawatts – enough to power about 3 million homes in Indonesia – and include the Darajat and Salak projects. The Salak project is one of the largest geothermal facilities in the world. 

The completion will pave the way for the site to start its transformation into a life sciences campus. Birmingham City Council had been overseeing the reclamation of the site, which was first carried out by Sainsbury's and Land Securities, who will continue to use the remainder of the site as a retail park.

Clifford Chance has advised CBRE Global Investors on the €650 million sale of its 265,000 sq.m retail portfolio in Central and Eastern Europe to CPI PROPERTY GROUP (CPI). The transaction was closed on Wednesday 29 March 2017.

On 28 December 2016 Steen & Ström entered into a sale and purchase agreement with Kungsleden regarding the sale of Emporia Office (located within Emporia in Hyllie). The transaction was conditional upon, inter alia, the property Malmö Marknadsplatsen 1 completed a three-dimensional real property formation process, whereby Emporia Office would be separated from the shopping centre Emporia.

The cadastral procedure gained legal force on March 1st 2017 and Kungsleden completed the acquisition of the shares in the property owning company on March 31st 2017.

Family businesses, by their very nature, offer up their own levels of complexity and the recent sale of The Capital Hotel and Apartments and The Levin Hotel to a US firm, Warwick Hotels, proved to be no exception.

Squire Patton Boggs has advised Avant Hotels Australia Pty Ltd on the sale of the Crowne Plaza Perth to I-Power Management Pte Ltd.

The sale, which was subject to a hotel management agreement with Intercontinental Hotels Group, was completed on 16 March 2017.

“Our client was very pleased with a smooth and successful transaction, brokered by Mark Durran of JLL,” said Squire Patton Boggs partner, Rahul Parrab. “We are delighted to have acted on this key transaction, evidencing continued deal flow in Perth”.

Osborne Clarke has advised the selling consortium of a 73.5MWp solar portfolio which has been acquired by Greencoat Solar I, one of the funds managed by renewable investment firm Greencoat Capital.

The portfolio comprises seven solar farms, including Scottow Moor Solar, one of the country’s largest solar parks located on a former RAF airbase in Norfolk with total capacity of c. 50MWp.