Professionals: DLA Piper, Bond Dickinson
LAW firm DLA Piper has advised Longway Trading on the sale of its Cyprus subsidiary MountainPeak Trading.
The firm is being sold to the German listed company Adler Real Estate AG, Frankfurt aM for £201m (€285m).
Mountain Peak, formed by serial entrepreneur Teddy Sagi, holds 24.8% in conwert Immobilien Invest SE, Vienna, one of the leading real estate companies in the German-speaking region with residential and commercial properties in Austria and Germany.
The multi-jurisdictional DLA Piper team led by Birmingham corporate partner John Campion, included partners from Leeds: Anna Robson, Stephen Atkinson and Sarah Day (pictured).
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VISTA, a joint venture between Countrywide and the £28.9m Hermes Investment Management, has appointed Bond Dickinson to a £50m residential transaction.
The firm are advising Vista on the purchase of 324 flats currently undergoing development in Baltic Village, Liverpool.
This large scale transaction is the first exchange of contracts for the fund.
The Bond Dickinson team was led by partner, Martin Stacey, and managing associate, Tom Willows, with support from members of the construction, planning and tax teams.
The legal work carried out for the Fund includes acting on the purchases of recently developed and existing tenanted stock as well as advising on property management matters following acquisitions.
Martin Stacey, partner at Bond Dickinson, said: “We are delighted to have advised on this transaction on behalf of the Vista Fund. The Private Rented Sector continues to expand and is now the second largest form of tenure in the UK.
“Bond Dickinson’s legal expertise in the Residential and Housing sector ensured efficient and smooth project completion and we look forward to working with Vista on the next project.”
Adrian Bird, national head of Acquisitions at Countrywide Residential Investments and asset manager of Vista UK Residential Real Estate LP, said: “[Bond Dickinson’s] professionalism and thorough understanding of what the project required ensured the transaction was efficient and completed on schedule.”
