Hamburg – Hamburg-based asset manager Luxcara has acquired the Eikeland-Steinsland onshore wind farm project in southern Norway. Together with MEAG, the asset manager of Munich Re and ERGO, it also initiated and structured the financing. Comprising 37 turbines, Eikeland-Steinsland’s total installed capacity of 155.4 megawatts is due to be connected to the grid in 2019. The purchase price was not disclosed.
Warsaw—Dentons Real Estate team in Warsaw has advised Warburg-HIH Invest Real Estate, a German real estate investment manager, on the acquisition of the Sagittarius Business House office building in Wroclaw from Echo Investment.
Located in Wroclaw’s central business district, Sagittarius Business House was completed in the first half of 2018. It offers 25,600 sq. m. of modern, A-class office space. The main tenants of the building are EY and Bank of New York Mellon.
CMS has completed two high profile Real Estate transactions in Manchester this month.
National law firm Shoosmiths has advised its long-term client Hallam Land Management on the multi-million pound sale of land which will be used to build around 100 homes in Leeds, together with a new primary school and associated infrastructure.
The land, together with the benefit of outline planning permission, was purchased by Barratt David Wilson Homes, for a much-needed development in the Adel area.
National law firm Shoosmiths has advised long-standing clients, Nurton Developments Limited (Nurton), on the £95m sale of its landmark asset management project, 2 Colmore Square and Cannon House.
The sale completed yesterday (22 August), following an exchange of contracts in July.
Warsaw - Dentons’ Real Estate team in Warsaw has advised Union Investment, the Hamburg-based real estate investment manager, on the acquisition of Park Inn by Radisson in Krakow, Poland. The hotel was acquired from a joint venture between subsidiaries of UBM Development and Lindorcenia.
Opened in 2009, Park Inn by Radisson is a modern 4-star hotel located in the center of Krakow, on south bank of the Vistula, close to the ICE Congress Centre. The hotel offers to its guests 152 rooms, a gym, five conference rooms and 70 parking spaces in the underground car park.
Stuttgart/Hamburg – The GRR Group has acquired a retail portfolio for around EUR 150 million on behalf of GRR German Retail Fund No. 3, a new investment fund for retail real estate. The portfolio comprises 42 properties at locations across nine German federal states. This is the largest portfolio the GRR Group has ever acquired for one of its real estate funds and also the biggest property purchase in the company’s history. The seller is an institutional special AIF. No further details of the deal were disclosed.
Linklaters advised Echo Investment on the forward sale of Sagittarius Business House to Warburg-HIH Invest Real Estate GmbH. The transaction was structured as the sale of enterprise and was valued at EU74.5m. This modern class A office building with an area of 25.6 thousand sq.m. is located in Wroclaw and its leased in majority to EY and the Bank of New York Mellon.
Leading commercial law firm Hill Dickinson has acted for the management team of major servicing solutions provider JLA on its sale from Hg, the manager of HgCapital Trust, to international private equity house Cinven. The sale, which was first announced back in May, successfully completed on Wednesday 15 August 2018 following approval from the FCA and CMA.
International law firm CMS has advised Battersea Power Station Development Company (BPSDC) on its pre-let agreement with IWG, the world’s largest serviced office group, to lease 40,000 sq ft of office space to luxury private members club, No18. The deal marks the final pre-let of office space for Battersea Power Station, which will also be home to tech giant Apple when it opens in 2021.