Greenberg Traurig advised asset management firm Eiffel Investment Group (EIG) on an asset-backed debt financing for IT startup Grover Group GmbH (Grover). The funds managed by EIG provide financing in the amount of EUR 20 million.
Dentons' Banking and Finance team in Warsaw advised Santander Bank Polska S.A. on a EU42 million and PLN 60 million financing granted to Galtair, a special purpose vehicle controlled by ISOC Group, for the acquisition of Silesia Business Park C and D office buildings from Skanska.
The subject of the sale agreement between ISOC and Skanska consisted of two new Class A office buildings with leasable area of more than 24,000 sq.m. located in the rapidly developing business district in Katowice (Poland).
A team led by Dr. Mirko Sickinger, Partner at Heuking Kühn Lüer Wojtek, advised SSN Group, Zug (Switzerland) on concluding a structured real estate financing transaction in the amount of EUR 15 million. The advice also included the drafting and negotiating of the loan agreement and of the collateral agreements. SSN Group will use the loan to restructure its acquisition financing of a multi-story car park near Hamburg Airport.
The term of the loan is five years. ICF Bank AG, based in Frankfurt am Main, acted as intermediary for the investors.
On 14 December 2018, "First Capital-CUL&TECHFLCO Asset-backed Specific Plan Phase I" ("CUL&TECHFLCO ABS Phase I"), as China's first asset-backed securities with the financial leases of intellectual property as the underlying asset, obtained the No Objection Letter for its listing on Shenzhen Stock Exchange ("SZSE"). The CUL&TECHFLCO ABS Phase I was secured by pools of the underlying assets of the originator, Beijing Culture & Technology Financial Leasing Co., Ltd.
Clifford Chance has advised Commerzbank Aktiengesellschaft on the sale of the office building "Vitreum" to South Korean investor Hana Financial Investment. The office building is located in Eschborn near Frankfurt am Main. United Partners (Korea) and Hines acted as investment manager for the buyer in the so-called sale-and-lease-back transaction.
Simpson Thacher represented Blackstone in its EUR 500 million refinancing of The Squaire office building and adjacent multi-storey car parking, in Frankfurt, Germany.
The Squaire is the largest office building in Germany and directly connected to Frankfurt Airport. Tenants include (amongst others) Hilton hotels, KPMG and Lufthansa. The Squaire parking is a multi-storey car park with over 2,000 spaces.
The Simpson Thacher team who acted on the refinancing included Tom Lloyd, Luke Murphy, Andrea Haughton and Alexandre Rakotovao (Real Estate).
Osborne Clarke in loan granted to PEREF
Osborne Clarke advised Aareal Bank AG, Rome branch, acting as lender, arranger and agent, in the real estate financing transaction with an overall value of approximately Euro 34 million provided to the alternative closed-end real estate investment fund “PEREF II FONDO” which acted through PGIM Real Estate Luxembourg S.A., which was in turn advised by DLA Piper.
The loan was provided in order to finance the purchase of three properties destined for logistics purposes and located in northern Italy.
Osborne Clarke advised Unicredit S.p.A. as lender, arranger and agent, in the granting of loan to the “URANIA” closed-end real estate fund which acted through SERENISSIMA SGR S.p.A., assisted in turn by DLA Piper.
The loan was provided to finance the purchase and/or development of a real estate portfolio consisting of three properties for commercial sues, two of which are locate in central Italy and the third in southern Italy.
The Osborne Clarke team advising Unicredit S.p.A. was led by partner Andrea Pinto with associate Laura Cipollone.
Linklaters has advised a group of fifteen commercial lenders and an institutional investor in relation to the £1.4 billion refinancing of the 353MW Galloper Offshore Wind Farm located off the coast of Suffolk, UK. The wind farm, which commenced its operational phase on 3 September 2018, consists of 6.3MW turbines manufactured by Siemens.
Galloper Offshore Wind Farm is owned by innogy SE (25%), Siemens Financial Services (25%), Sumitomo (12.5%) and ESB (12.5%) and a consortium managed by Green Investment Group and Macquarie Infrastructure and Real Assets (25%).
London—Dentons has advised the Hong Kong branch of DBS Bank Ltd on a pound sterling loan facility to a joint venture vehicle owned by Wing Tai Properties and Manhattan Garments to acquire 30 Gresham Street, London.
Dentons acted for the Hong Kong branch of DBS Bank Ltd as structuring bank and sole lender. 30 Gresham Street comprises about 400,000 sq ft of office space in the City of London and is occupied by Commerzbank and Investec.