Simmons & Simmons advises Deka Immobilien Investment Gmb H on sale of Lloyds Building Simmons & Simmons has advised Deka Immobilien Investment Gmb H on the sale of the famous London Lloyds Building to the German open ended fund, CLI for a price in excess of £230 million.
The sale involved placing the property in a limited partnership, with a view to disposing of the partnership shares, and subsequently carrying out a major restructuring to enable the sale of the building.
The Lloyds building is one of the most instantly recognised buildings in the City of London.
The Simmons & Simmons team was led by real estate partner Alan Butler, with partner Stephen Elvidge and assistant Karen Clark also advising on the real estate aspects.
Tax partner Nick Cronkshaw assisted by Mark Sheiham, and corporate assistant James Duncan also advised on this matter.
The team provided comprehensive tax and corporate advice as well as German regulatory and tax assistance.
Robin Mitchell of Norton Rose acted for the purchaser.
Alan Butler said: "We are delighted to have advised Deka Immobilien Investment Gmb H on this matter.
The Lloyds building is a significant landmark in the City of London and this transaction comes almost one year after the same Simmons & Simmons team acted for the joint owners of Aviva Tower, which stands opposite, in connection with its sale for approximately £237 million." Simmons & Simmons has recently acted for Deka on its US0 million forward purchase of the Diagonal Mar Shopping Centre in Barcelona and the forward funding of Mahon Point Retail Centre in the Republic of Ireland and on the acquisition of its UK property portfolio (c.£2 billion).
-ends- Notes for editors: Simmons & Simmons is a world class law firm with offices in London, Rotterdam, Paris, Lisbon, Milan, Rome, Düsseldorf, Frankfurt, Brussels, Madrid, Padua, Oporto, Madeira, Abu Dhabi, Qatar, Hong Kong, Shanghai, Tokyo and New York with over 1,850 staff world-wide.
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It advises on the whole range of corporate finance activity, mergers and acquisitions as well as other corporate and commercial law matters for listed and unlisted companies on an international basis.