Ashurst advised Dock 100 GmbH & Co. KG on the sale of business and logistics park "Dock 100" in Berlin-Tegel. Asset manager BEOS AG acquired the park for an international group of investors. The parties agreed not to disclose the purchase price.
Ashurst advised a well-known international bank on the sale of a real estate portfolio consisting of 2,860 accommodation units and 57 industry units to TAG Immobilien AG at a purchase price of €70.5 million. The transaction was characterised by a complex sales structure and was carried out by way of an asset deal.
Burges Salmon have acted for The Crown Estate on the sale of Honda's biggest storage depot in Cabot Park, Avonmouth to the BlackRock UK Property Fund and Canmoor for £31m.
Led by senior associate Matthew Sims, the firm’s Real Estate team acted for The Crown Estate on the sale, which formed part of its announcement of £130 million of property transactions that also included a commitment to fund the development of the £80 million Banbury Gateway fashion park and the sale of Zenith Industrial Estate in Basildon for £19 million.
CMS has successfully advised Quinn Insurance Limited (under administration), its subsidiaries and its administrators at Grant Thornton Ireland on the separate but simultaneous sales of the Hilton Hotel, Sofia and the Sheraton Hotel, Krakow for combined total proceeds of €72 million. Algonquin SA has acquired Sheraton Hotel, Krakow while a consortium of Bulgarian investors has acquired the Hilton Hotel, Sofia.
Watson, Farley & Williams has advised US logistics developer Panattoni Europe (“Panattoni”) on the legal and tax aspects in relating to the sale of two logistics buildings in Bremen and Bodenheim near Mainz, Germany, to Goodman Princeton Holdings, a joint venture between the US REIT Chambers Street Properties and the logistics building specialist Goodman.
The Seoul and Madrid offices of Herbert Smith Freehills have advised long-standing Spanish client Acciona Energia, on its KRW 162 billion (approximately US$150 million) sale of the Yeong Yang I wind farm in South Korea to a South Korean investment fund.
The Yeong Yang I wind farm, wholly owned indirectly by Acciona Energia, has a capacity of 61.5MW, and is located in the region of North Gyeongsang.
Slaughter and May advised Grosvenor on the sale of 11-15 Grosvenor Crescent, London SW1 for £114 million to Wainbridge Estates Belgravia Limited. It is intended that the property will be redeveloped into 80,000 sq.ft of high-end residential apartments with a gross development value of over £350 million. The façade of the grade II listed building and its listed elements will be retained and restored. The agreement was conditional on planning and also included detailed overage provisions relating to sales proceeds. Completion of the development is expected in 2017.
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Dentons successfully advised Property Weinheim S.a.r.l. Luxemburg on the sale of the service center Weinheim to Sparkasse Rhein Neckar Nord. By this transaction, the first real estate was sold out of a Shift-Portfolio acquired by DB Real Estate, now the Asset Manager RREEF, in 2006. In total, the portfolio includes 10 commercial properties across Germany with a market value in the hundreds of millions.
Slaughter and May advised Centrica on the sale of its Race Bank wind farm project to DONG Energy for £50 million.
The Race Bank wind farm project is situated 27km off the Norfolk Coast and received consent for a capacity of up to 580MW in 2012. Once fully developed, it could meet the equivalent annual electricity demand of more than 450,000 UK homes. It has been taken through the planning and front-end engineering and design phase by Centrica, and DONG Energy will now take forward the project’s development.
Slaughter and May advised DONG Energy on the sale of the Severn gas-fired power station to a consortium of investors led by Macquarie Group's Infrastructure and Real Assets business for £350 million, plus an earn-out based on the future gross margin of the Severn power station.
The Severn power station, which is situated at Uskmouth near Newport in South Wales, has a capacity of 832MW and is able to generate power for approximately 1.5 million households.
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