DLA Piper has advised Senate Properties on the sale of office and laboratory buildings occupied by the Finnish Institute of Occupational Health in Topeliuksenkatu, Helsinki. The purchasers are investment fund, OP Vuokratuotto, and real estate fund, Finland III Ky, who will own joint shares in the properties. The purchase price is 39.1 MEUR.
We advised a fund managed by the German company Catella Real Estate AG in the sale of a prestigious property in the centre of Helsinki to another German real estate fund, managed by Barings Real Estate Advisers (formerly Cornerstone). Built in 1891 and located in the heart of the city, the property is being renewed to accommodate modern office premises, which are expected to be completed at the end of 2017.
The international law firm Baker & McKenzie has advised TH Real Estate on the sale of two commercial properties in Wiener Neudorf. The purchaser of the two commercial properties in Wiener Neudorf is Bena Business Center GmbH.
Bird & Bird's Real Estate team in London recently advised Cardiff Data Investments Limited (CDIL) on the sale of a data centre in the Welsh capital to Singapore-based company Keppel DC REIT Management, for a sale price of £34 million ($42m or S$58m).
CDIL (a vehicle owned by hotel entrepreneur Jonathan Raymond) purchased the data centre out of receivership in January for £25 million and Bird & Bird acted for the purchaser in that transaction.
Clifford Chance has advised Eurocastle Investment Limited, listed on Euronext Amsterdam, on the sale of two retail portfolios. The portfolios consist of 67 retail properties which comprise a gross leasable area of overall 136,000 square metres, the most part let to big retailers including Lidl, Aldi, Edeka and REWE. The acquiring party is Canadian investment platform Slate Asset Management L.P.
King & Wood Mallesons has advised Melbourne Stadiums Group, owners and operators of the Etihad Stadium in Melbourne, on the sale of the stadium to the AFL.
Under the deal terms, management rights and freehold ownership will transfer to the AFL who will formally take over the stadium in early November. The transaction will accelerate the AFL’s ownership of the stadium, with the AFL originally entitled to acquire the stadium land in 2025 under an option granted when the stadium was developed in the late 1990s.
DLA Piper has advised Threesixty Developments, the student accommodation arm of Oaktree Capital, on the sale of a portfolio of 15 student accommodation and 2 private rented sector assets located across the United Kingdom. The purchaser was Global Student Accommodation and GIC, the Singaporean sovereign wealth fund.
DLA Piper Weiss-Tessbach has advised Erste Group Immorent on the sale of the 5-star Radisson Blu Resort & Spa Dubrovnik Sun Gardens, a luxury hotel on the Croatian coast to a Chinese investor.
The transaction was set up as a share deal and is regarded as one of the largest hotel transactions in the CEE region this year.
The DLA Piper team, who advised on finance law aspects of the deal, was led by Finance &Projects partner in Vienna, Jasna Zwitter-Tehovnik, one of the few lawyers in Austria admitted in four jurisdictions.
Freshfields has advised Solvay S.A. on the sale of its Ionquest 290 and Octyl Phosphonic Acid business units to Italmatch Chemicals S.p.A.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Solvay S.A., a global chemical and advanced materials company based in Belgium, on the sale of its Ionquest 290 and Octyl Phosphonic Acid (OPA) business units to Italmatch Chemicals S.p.A., a specialist chemical company based in Italy.
International law firm Simmons & Simmons has advised Meyer Bergman on the sale of the Karstadt department store at Berlin’s Hermannplatz to Signa.
The 90.000 m² building is one of the largest city-centre department stores in Germany. The store itself is adjoined by a multi-storey car park with space for 680 vehicles and integrates a block for office and residential use. The Meyer Bergman managed fund Meyer Bergman European Retail Partners II had purchased the property in early 2014.