Real estate deals round-up

Burges Salmon (Mark Paterson) advised the Ministry of Defence (MoD) on the largest PFI defence contract to close in the UK. Under the £2.5bn Skynet 5 Private Finance Initiative, Paradigm Secure Communications, a wholly-owned subsidiary of the European Aeronautic Defence and Space Company (EADS), will deliver secure military satellite communications services to the MoD over 15 years. Freshfields Bruckhaus Deringer (Nick Bliss) advised Paradigm, while Lovells (Charles Robson) acted for EADS. The senior lenders were advised by Allen & Overy (David Lee). Masons in Glasgow and Edinburgh advised Claymore Roads, a Morgan Est/Barclays Private Equity consortium, on the £68m upgrade of the A92 between Arbroath and Dundee. DLA (Nigel Drew) acted for the financiers, Axa Investment Managers and DePfa. Morgan Est, advised by Wragge & Co, will provide design and construction services.

Paul Hastings Janofsky & Walker (Mark Eagan, Jeff Bailey) advised the Apollo International Real Estate Fund on its joint venture with Countryside Properties. The joint venture will develop Accordia, a £150m residential development in Cambridge. Royal Bank of Scotland, advised by Berwin Leighton Paisner, provided the non-recourse project loan, while Campbell Hooper acted for Countryside Properties.

Pinsents (Simon Masters) advised Patrick Cryne, founder and chief executive of iSoft, on his investment in Oakwell Community Assets and its purchase of Barnsley Football Club’s stadium and academy. Nicholson Graham & Jones advised the vendor, Round Objects, while Walker Morris advised the Council.

Wragge & Co (Kultar Khangura) advised MEPC on the £23.1m sale of No1 Callaghan Square in Cardiff to Standard Life Assurance Company. Addleshaw Goddard advised the purchaser.