Camerons reaches Pinnacle in e600m sale

CMS Cameron McKenna is working opposite Linklaters on the sale of major Eastern European warehouse operator Pinnacle Real Estate to Islamic investment fund Arcapita.

Pinnacle,?which?is thought to manage assets worth more than e600m (£476.58m), turned to Camerons’ Central and Eastern Europe office and corporate partner Helen Rodwell, as well as real estate?partner?Hilary McDowell.

Linklaters partners Martin Elliott in London and Klara Stepankova in Prague represented Bahrain-based Arcapita.

The?deal?included 230,000 square metres of leased warehouses and almost 1.5 million square metres of land set aside for future development across the Czech Republic, Slovakia, Poland and Bulgaria.

Rodwell said: “It was a very successful deal given what the markets are doing. To get the deal away in the first quarter of this year across four different jurisdictions was a huge success.”

Camerons advised Pinnacle’s shareholders and founders, including investment bank Merrill Lynch, which has been a client since the firm advised on a Czech property deal in 2004.

Rodwell added: “We’ve known?the?Pinnacle founders for a number of years and we also work for Merrill Lynch in Central and Eastern Europe.”

Arcapita manages an $18bn (£9.21bn) portfolio of private equity, real estate and infrastructure interests.