Practice Areas - Real Estate Law Firms and Lawyers
| Deal Date: | 11-02-2014 | Practice Area: | Real Estate |
| Deal Title: | SEGRO European Logistics Acquisition of European Assets | Industry: | Real Estate Investment & Services |
| Description: |
International law firm Clifford Chance advised SEGRO European Logistics Partnership (SELP) on the acquisition of a portfolio of prime logistics assets and development land in Germany, Poland and France for EUR472 million. The portfolio comprises 14 prime modern logistics assets (ten in Germany, three in Poland and one in France) covering approximately 679,000 sq m of lettable space.
Clifford Chance advised SEGRO plc on the formation of the joint venture in October 2013 and the sale of the seed portfolio comprising EUR974 million of logistics assets and land by SEGRO plc to the joint venture.
Following this transaction, SELP will contain approximately EUR1.5 billion of investment assets (based on acquisition cost) across 2.3 million sq m of lettable space as well as land under development. Completion is expected in the second quarter of 2014, subject to certain closing conditions.
The Clifford Chance team was led in London by Adrian Levy, Global Head of the Real Estate Sector, who was assisted by senior associate John Went and associates Rachael O'Donnell and Lucie Lambert. London real estate partner Mark Payne and senior associate Nick Redman led on real estate aspects. London tax partner David Saleh, Head of Real Estate Tax, and senior associate Alastair Alderton led on tax aspects assisted by associate Edward Page.
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| Financial Center: | London | Value: | 500.01-1000.00 |
| Advised Party: | Purchaser | Law Firm | Clifford Chance |
| Real Estate Jurisdiction | Germany | Purchaser Jurisdiction | United Kingdom |
| Classification: |
Real Estate Acquisitions and Disposals Warehouses |
Lawyer | Adrian Levy |
