Wetherby-based Encon Group, one of the UK’s leading providers of specialist building materials, has set its sights on further expansion after announcing that it has secured a £54m refinancing deal.
The funding, which comprises facilities provided by funds and accounts advised by Farallon Capital Europe and Lloyds Bank Commercial Finance, will enable Encon to continue building market share in the UK.
Redefine International, advised by leading international law firm Pinsent Masons, has purchased the Doubletree by Hilton hotel in Edinburgh city centre for £25.2 million, representing a net initial yield of 6.7%.
Linklaters has acted for one of W. P. Carey's managed non-traded REITs on the EUR 9.7 million sale-leaseback of an office/R&D facility with Nokia Solutions and Networks. The transaction represents W. P. Carey's second deal in Poland this year following back in March, when the company had completed the acquisition of Lipowy Office Park, which serves as Bank Pekao’s headquarters, in Warsaw.
Prague - White & Case LLP has advised industrial real estate company Prologis on the acquisition of an international property portfolio.
Prologis has acquired three logistics parks located in the Czech Republic, Slovakia and Poland. The parks, encompassing 23 Class-A distribution centers totalling 230,000 sqm of leasable space, are located along key regional transport routes.
A Travers Smith team led by private equity partner James Renahan and senior associate Matthew Kichenside have advised management on the sale of Keepmoat. Sun Capital and TDR Capital have agreed to buy the Doncaster-based homebuilder and provider of social housing for a reported £400 million. Completion is expected to occur by the end of November 2014 and is subject to regulatory clearances.
The transaction involved a class A office building located at ul. Karolkowa 30 in Warsaw (next to a new underground station at Rondo Daszynskiego), with a total net lettable office, retail and service area of approximately 17,852 square metres. The project has been developed in line with the rules of sustainable development and meets BREEAM certification requirements. The opening is scheduled for January 2015. Asbud, which has held half the shares, has taken over the remaining 50 percent from CPI (formerly the Ablon Group) becoming the sole owner of the Karolkowa Business Park.
Hogan Lovells has advised long-term client M&G Real Estate on the £140m acquisition of Two Snowhill, a 319,000 sq. ft office and retail scheme in the core of Birmingham's prime office district.
The 14-storey tower is home to law firm Wragge Lawrence Graham & Co. and serviced office company i2 Office; and will also house 1,500 HS2 staff set to be based in the city from 2016.
The strategic acquisition by M&G is in response to an increasing shortage of Grade 'A' office space in Birmingham, and the resulting prime rents.
Clifford Chance has advised CCPIII, the core plus fund advised by pan-European real estate manager Tristan Capital Partners, on the sale of "Dieterich Karree" residential/retail complex in downtown Düsseldorf's Pempelfort district.
Bayerische Versorgungskammer is the purchaser. The purchase price is 70.5 million Euros which corresponds to a 5.2% initial yield.
Orrick, Herrington & Sutcliffe LLP has advised Valad Europe, a leading independent diversified real estate investment manager, on its acquisition of a logistics asset in Thuringia, Germany, for €23 million. The investment was made on behalf of its Valad European Diversified Fund (VEDF) which invests in office, retail and logistics assets across Germany, France and the UK.
The 36,300 sq m logistics building, Holzlandstrasse 1, Reichenbach, is leased until 2023 to Metro Logistics Germany GmbH, the logistics division of Metro Group.
The Leeds office of law firm Irwin Mitchell has advised Christal Management, a specialist construction project management consultancy, on its sale to EC Harris.
Christal Management, which is based in Manchester and Paisley, will expand EC Harris’ capacity to meet increasing client demand in the North West of England and Scotland particularly in the retail, stadia and urban regeneration sectors.