Real estate deals round-up

SJ Berwin

(Jon Vivian) advised Brixton in its £51.5m acquisition of the Northfields Industrial Estate from Burford. The deal included the freehold reversion of long-leasehold property from the British Waterways BoardClifford Chance (Mike Edwards) acted for Burford.

Linklaters (Bruce White) acted for Ambac Assurance, Royal Bank of Canada Europe, Morgan Stanley and Prudential as monoline insurer, joint lead manager, security and bond trustee respectively on the £680m Colchester Garrison PFI (private finance initiative) Project. The project represents the first ever public bond issue for a Ministry of Defence (MoD) project and the largest single-tranche PFI bond deal to date. DLA (Colin Wilson) advised the MoD, while Ashurst acted for RMPA Services, a consortium comprising Sir Robert McAlpine, WS Atkins, Sodexho Defence Services and HSBC. Eversheds advised Taylor Woodrow Developments.

Trowers & Hamlins advised Al Manar, a managed fund of Kuwait Finance House, on its acquisition of three South East offices from Morley Fund Management for £56m. The deal involved Islamic finance structures. Mayer Brown Rowe & Maw acted for financiers Aareal, while Berwin Leighton Paisner advised the vendors.

Hengeler Mueller (Frank Burmeister) represented US investment house Cerberus on the purchase of some 3,500 apartments from Nuremberg-based Bavaria Objekt und Baubetreuung. Schiedermair Rechtsanwaelte (Dr Wolfgang Karehnke) advised the vendor.

Denton Wilde Sapte advised Reuters on its signing of 283,000sq ft at 30 The South Colonnade, Canary Wharf. From May 2005, Reuters will occupy the entire building as its London headquarters. Canary Wharf Group is buying Reuters’ current Fleet Street base and its offices on Bride Street. Ashurst (Martin Wright, David Jones) acted for Canary Wharf.