Real estate deals round-up

Nabarro Nathanson (Malcolm Iley) advised Leicester City Council on a £300m integrated waste management PFI project. The contract will be delivered by Biffa, advised by Cripps & Shone (John Gabbitas) and on construction matters by Lester Aldridge.

Freshfields Bruckhaus Deringer (Mark Wheelhouse) advised Cinven on the real estate aspects of its £204m recommended cash offer for Fitness First. Fitness First is one of the leading operators of fitness clubs in the world, with more than 300 clubs and 700,000 members in the UK, Continental Europe, the Far

East and Australia. Ashurst Morris Crisp advised Fitness First.

SJ Berwin (Jonathan Djanogly, Pat Jones) represented Palmer Capital Partners on the creation of Palmer Orion UK, a £200m joint venture with the Orion European Real Estate Group, which will invest in commercial property development opportunities in the UK. Clifford Chance (Iain Morpeth) advised Orion.

Thomas Eggar (Roger Hickman) advised the Woolwich Pension Fund on the £42.5m sale of a portfolio of properties in Eng-land and Scotland to Osprey. Maclay Murray & Spens (Joy Hurst) advised the funder, Bank Of Scotland. Osprey was advised by Forsters and Tods Murray WS.

Gibson Dunn & Crutcher (Nick Turner) has finalised a £58m refinancing of the Oak Mall Shopping Centre in Greenock, Scotland. The firm advised a private client on the deal, with the lender, Norwich Union Mortgage Finance, represented by Herbert Smith. Local Scottish advice was provided by Brodies for the borrower and Maclay Murray & Spens for Norwich Union.

Linklaters (Rafael Molina) acted for GLL Real Estate Partners, a joint venture between Lend Lease and Generali, on the e39m (£28m) acquisition and acquisition financing of Morgan Stanley’s HQ in Madrid from Grupo Lar Grosvenor, which was advised in-house.

Norton Rose (David Coulter) advised Islington Council’s prefered bidder Partners for Improvement in Islington on the first closed PFI pathfinder social housing scheme. Pinsent Curtis Biddle (Alan Aisbett) advised the council.