Ashurst advised financial investor Cerberus Capital Management (Cerberus) on the sale of a portfolio of 39 wholesale markets, rented to retail and wholesale group Metro AG, and its existing senior and mezzanine financing to Aroundtown Property Holdings (Aroundtown). The real estate investor acquired the portfolio by way of a share deal.

Cerberus had acquired the portfolio in 2011, together with three other commercial properties, from the largest shareholders of Metro AG, the Beisheim, Haniel and Schmidt-Ruthenbeck families.

Roschier represented Trevian Care II Ky on the sale of a real estate portfolio comprising of 11 care property assets to a fund managed by AXA Investment Managers - Real Assets. The portfolio was valued at around EUR 65 million. The properties are located in the Helsinki region and other Finnish major cities and they have long-term leases with major private care operators.

Gowling WLG has advised Primrose Solar on the sale of its five remaining solar PV sites, with a combined capacity of 80MW, to Equitix, all of which were RO-accredited.

The five remaining solar farms were located in the Vale of Glamorgan, Dorset, Norfolk and Canworthy Solar Farm in Cornwall, which was the largest remaining site in the portfolio at 41MW.  The deal brings an end to a successful year for renewable energy developer Primrose Solar, having fully-developed and sold its entire portfolio of solar farms, totalling 260MW of assets, in a year.

The building and real estate management agency of the state of North Rhine-Westphalia (NRW BLB) is selling the Ulmer Höh’ correctional facility in Düsseldorf, a site of some 35,000 square meters. The property is one of the last large open spaces near the city center. The former buildings of the correctional facility will be torn down except for the prison chapel.
 

Invesco Real Estate fund has become the new owner of the Q22 tower, located in Warsaw at the intersection of Aleja Jana Pawla II and ulica Grzybowska, upon purchasing the property from Poland's largest developer, Echo Investment S.A. Linklaters provided comprehensive legal advice and support to the seller in all major legal aspects of the deal. The deal was valued at over PLN 1 billion net.

DLA Piper has advised GERRY WEBER International AG on the sale of the Halle 30 showroom centre in Düsseldorf to an institutional real estate investor. The purchase price of the property was EUR 49.1 million, which is equivalent to a multiplier of approximately 18.5 on the annual net basic rent. Since the signing of the sales contract on 28 October 2016, completion of the sale had still been subject to various execution and maturity requirements, which have now been fulfilled.

Watson Farley & Williams (“WFW”) has advised British investment management firm the Foresight Group (“Foresight”) on the sale of its stake in the 9.8 MW “La Castilleja” photovoltaic plant to co-shareholder Greentech Energy Systems A.S. (“Greentech”), who now wholly own the project.

The WFW Madrid corporate team was led by María Pilar García Guijarro, Madrid Managing Partner and Corporate Head, together with transaction Partner Gonzalo Aranzabal and Senior Associate Javier Ester.

Slaughter and May advised DONG Energy on its disposal of a 50% interest in the 573MW Race Bank offshore windfarm to Macquarie European Infrastructure Fund 5 and Macquarie Capital, the principal investment arm of Macquarie Group.  It also advised on the terms of a certain related financing, construction management, operations and maintenance and power purchase arrangements.

Hannes Snellman acted as counsel to VVO Group plc. in its disposal of 1,344 non-restricted rental apartments to a company managed by Avant Capital Partners. The transaction is estimated to be closed by February 2017. The assets in the portfolio are located in 20 different cities across Finland.

Our core team in Helsinki comprised Tapio Teräkivi, Kaisa Mansikkamäki, Katja Heikkinen, and Ninja Heikkilä.

Ashurst has advised Oxford Properties on the refinancing and the 50% joint venture sale of King Edward Court (headquarters of the London Stock Exchange) and St Martins Court (CBRE's London headquarters) to Madison International Realty for c£200 million.

Ashurst previously advised Oxford Properties on the acquisition and financing of both King Edward Court in 2013 and St Martins Court in 2012. Oxford Properties will act as asset manager for the new joint venture, taking Oxford's third party assets under management in Europe to C$1.8Bn.