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Asset Sale: Seller's Counsel

Orrick Advises Trading Emissions in Sale of Librandello Solar Project Portfolio to Sonnedix

08 Sep 2016

Orrick’s Italian energy team advised Trading Emissions PLC, through its wholly owned subsidiary TEP Solar Holdings Limited, in a sales and purchase agreement with a member of the Sonnedix group. The agreement concerns the sale of Trading Emissions’ entire interest in two Italian subsidiaries, Etuno Srl and Solar Energy Italia 6 Srl, also known as Librandello. The Librandello portfolio comprises three ground-mounted solar photovoltaic plants located in Abruzzo and Sicily with a combined capacity of 11.2MW.

Starwood Capital Group and Vencom divest retail parks for SEK 3.1 bn

07 Sep 2016

Starwood, a private investment firm with core focus on global real estate, and property developer Vencom, have divested six retail parks comprising approximately 150,000 square meters to Trophi Fastighets AB, owned by the Third AP Fund.

The properties are located in six Swedish cities: Stockholm, Malmö, Eskilstuna, Uppsala, Landskrona and Gothenburg. The purchase price is approximately SEK 3.1 billion.

Houthoff Buruma advised on the sale of the former TNO location in Apeldoorn by ETV Groep

30 Aug 2016

ETV Groep sold the former TNO location in Apeldoorn, for extensive area development, to property developer DW Investments. In the years to come around 275 luxury detached and semi-detached houses will be built in the area. This is an extensive area transformation with around 70,000 m2 of office space being withdrawn from the market.

Houthoff Buruma team included: Lucas Louwerier, Paul Asselbergs, Ester de Boer, Loes van den Hurk, Michel Klijn, Caroline Schoenmakers

Real estate company Jungberg & Rothman Kvartersfastigheter has divested its majority shareholding in the Gasverket project in Norra Djurgårdsstaden

25 Aug 2016

Jungberg & Rothman Kvartersfastigheter has divested the Gasverket project to CA Fastigheter. Jungberg & Rothman Kvartersfastigheter will remain as a minority shareholder and the two parties will work together to carry out the project in collaboration with the City of Stockholm.

Herbert Smith Freehills advises Pepper Group Limited on its second A$400m whole loan sale in 2016

22 Aug 2016

Herbert Smith Freehills has advised leading non-bank lender Pepper Group Limited on its second A$400 whole loan sale transaction in Australia in 2016.

The whole loan sale was comprised of a portfolio of residential mortgage loans, and will facilitate further diversification of Pepper’s sources of funding outside of its regular securitisation programs.

The Herbert Smith Freehills team was led by partner Mark Currell, who was supported by senior associate Jacob Kahwaji.

Rockspring and Vencom divests Värmdö Köpcentrum

18 Aug 2016

The real estate fund Rockspring and property developer Vencom has divested Värmdö Köpcentrum. Värmdö Köpcentrum, which houses about fifty stores, was acquired by the pension company Alecta. The property value at the transfer amounted to SEK 421 million.

Vencom will continue to be responsible for the development and management of Värmdö Köpcentrum.

Rockspring and Vencom was advised by Mannheimer Swartling in the transaction. The firm's team consisted primarily of Klas Wennström and Olle Källström.

Nabarro acts on £164m sale of One St Peter’s Square in Manchester

17 Aug 2016

Nabarro has acted for developers Argent and The Greater Manchester Property Venture Fund on the £164m sale of One St Peter’s Square, one of Manchester’s most prestigious office and retail spaces and home to KPMG, DLA Piper and Addleshaw Goddard.

The 288,000 sq. ft. development was completed in September 2014 and has been bought by Deka Immobilien, the German, global real estate investors.

WFW advises STRABAG subsidiary on sale offshore wind farm project to Vattenfall

15 Aug 2016

International law firm Watson Farley & Williams (“WFW”) has advised Erste Nordsee-Offshore-Holding GmbH, a joint subsidiary of STRABAG SE (“STRABAG”) and, indirectly, Etanax GmbH, on the legal and tax aspects of its sale of the offshore wind farm project “Global Tech II” to leading Swedish utility Vattenfall. The parties have agreed to not disclose the purchase price.