Dentons has advised HSBC Bank plc on c. EU635 million of real estate finance investment facilities to Chariot Top Group BV, a special purpose vehicle incorporated in the Netherlands and owned by an equity consortium including, amongst others, funds managed by Oaktree Capital Management, L.P. and Redefine Properties, to acquire a retail portfolio from Ares Management L.P., AXA Investment Managers - Real Assets and Apollo Rida. The deal is valued at around EU1 billion.

Dentons acted for HSBC Bank plc in all its capacities. The investment facilities were used by Chariot Top Group to acquire a portfolio of 28 real estate assets consisting of nine M1 shopping centres, twelve hypermarkets, four power parks and three standalone DIY stores.

At the same time as the portfolio acquisition, and under a separate agreement, Chariot Top Group BV resold a part of the portfolio to Echo Polska Properties group (EPP), which has become one of the largest retail property owners in the region. The deal with EPP has been divided into three phases, with EPP acquiring four M1 shopping centres in January 2018, with acquisitions of four M1 centres and four power parks to complete between now and the middle of 2020.

The aggregate value of the transactions amounts to c. EU1.7 billion and represents one of the largest-ever real estate portfolio transactions in Poland.

James Irvine, Dentons Banking and Finance partner who, together with Mateusz Toczyski, led on the transaction, said, "We are delighted to have advised our key client, HSBC Bank plc, on this landmark deal. Reaching completion was a great way to start the new year, and the transaction was a rewarding and exciting experience for all those involved."

"This deal, which is one of our largest real estate financings in Poland, showcases our ability to deliver large multi-jurisdictional transactions across our global firm, where three Dentons offices were involved in the UK, the Netherlands and Poland," added Mateusz Toczyski.

Alongside James Irvine, the core Dentons London team advising on the deal also included Tax partner Alex Tostevin, Banking and Finance senior associates Olivia Ashurst and Scott Syme and associate Louisa Clapton.

The Dentons finance team in Poland included Head of the European Banking and Finance Mateusz Toczyski, senior associate Piotr Nerwinski, associates Monika Kowara and Lukasz Blaszczak, and junior associates Jan Zaremba and Justyna Machnicka. The finance team was supported by senior associate Hanna Zarska and associate Alicja Pulawska-Kusnierz from the real estate team, as well as tax partner Cezary Przygodzki and tax counsel Tomasz Krasowski.

The Dentons team in the Netherlands included Banking and Finance associate partner Jeroen den Hamer, associates Magdalena Kalinska and Tom Tempelaars, as well as junior associate Robbert Middelburg. The team was supported by a notary team - partner Jan-Mathijs Hermans and junior associate Vincent Wensink - as well as tax partner Heico Reinoud.