DLA Piper has advised Aareal Bank AG on an up to €1 billion  pan-European real estate loan to Invesco Real Estate which represents one of 2016's largest European real estate financings.

The facility comprises initial loans totalling €610 million, which will be used to refinance a portfolio of properties located in UK, Spain, France, Germany, Italy, the Netherlands and Poland. The financing also provides Invesco with an accordion facility of up to another €390m, which is yet uncommitted, to enable it to expand the portfolio throughout those jurisdictions.

The Banking & Finance, Capital Markets practice at Egorov Puginsky Afanasiev & Partners advised on the fourth mortgage asset securitization transaction for Absolut Bank.

On November 10, 2016, Mortgage Repurchase Agreement Financing Trust, a Delaware statutory trust (the Issuer) issued USD 700 m Series 2016-3 Notes and USD 500 m Series 2016-4 Notes which are backed by a revolving pool of mortgage loans purchased by the Issuer under a repurchase agreement from Credit Suisse AG, Cayman Island Branch (Credit Suisse).

Global law firm Norton Rose Fulbright has advised Kensington Mortgage Company Limited, as originator, and Acenden Limited, as servicer, in relation to residential mortgage-backed securities (RMBS) notes issued by Finsbury Square 2016-2 plc on 13 October, raising over £360m.

Obvion, one of the Netherlands’ leading mortgage providers, raised circa EUR 2 billion through the issuance of mortgage-backed bonds in the STORM 2016-II transaction. As a feature thus far unseen in RMBS transactions, the most senior tranche of the bonds was issued above par, at 101.49 per cent. This premium compensates the Issuer and Obvion for the relatively high coupon of 3m Euribor +60 bps. By setting the margin at 60bps, Obvion decreases the likelihood of hitting the floor of zero of the senior bond coupon (with 3m Euribor currently around -30bps).

International law firm Watson Farley & Williams (“WFW“) advised Banca Popolare di Milano S.c. a r.l. (“BPM”) on the €15m financing to Redwood, a real estate investment fund entirely subscribed by real estate company Aedes SIIQ S.p.A. and managed by asset management company Castello SGR S.p.A., in order to cover cash flow needs and finance restructuring costs related to a building complex located in Italy.

Based in Milan, BPM is Italy’s second largest co-operative bank.

Castrén & Snellman acted as legal advisor to Tripla Mall Ky in relation to the project financing for construction of the Mall of Tripla. A consortium consisting of the European Investment Bank (EIB), the Nordic Investment Bank, Danske Bank plc and Svenska Handelsbanken AB (publ) provided aggregate loans of approximately EUR 300 million for the project.

Herbert Smith Freehills has advised Propertylink on its successful initial public offering (IPO) of stapled securities to institutional and retail investors.

The IPO raised a total of A$503.5 million at a price of A$0.89 per stapled security. Propertylink securities commenced trading on the Australian Securities Exchange, on a conditional and deferred settlement basis, on 5 August 2016 under the ticker code ‘PLG’ and are expected to commence trading on a normal settlement basis this week.

London - Paul Hastings LLP, a leading global law firm, announced today that it has advised European Real Estate Debt II S.à r.l and DRC European Real Estate Debt III No.

Advising Tishman Speyer Management OPCI in connection with the acquisition from Dexia (sale & lease back transaction) and the financing of the office tower CBX located in La Défense with a surface area of 41.000 sq.m.

Membres

* Eloïse Koudou
* Grégoire Balland
* Guillaume Rossignol
* Katia Belhiteche
* Nicolas Bricaire