by matt | Jun 29, 2021 | news
Fairway has once again been recognized in the latest Best Lawyers 2022 guide. The American magazine, in partnership with Les Echos, published on June 24, its 2022 ranking of the best French lawyers recognized by their peers.
Congratulations to our six partners distinguished in six different practice areas :
- Aubry d’Argenlieu: Real Estate Law
- Matthieu Barthélemy: Insolvency & Reorganization Law, Litigation and Structured Finance Law
- Sandrine Benaroya: Mergers and Acquisitions Law
- David Franco : Banking and Finance Law
- Neslihan Gabriel – Denizkurdu : Real Estate Law
- Frédéric Lefébure : Real Estate Law
by matt | Jun 25, 2021 | deals
Fairway advised Dream Industrial Europe Advisors Cooperative UA (a subsidiary of Dream Industrial REIT) on behalf of Greenberg Traurig and on the French side of the acquisition of a pan-European logistics portfolio from Clarion Partners Europe. Fairway was assisted by Cheuvreux (Marie-Anne Le Floch and Vincent Passerat) on the notary aspects of the transaction.
This portfolio of 31 logistics properties, which has been built up over the past four years, totals more than 827,000 sqm, spread over six European markets (France, Germany, the Netherlands, Spain, Slovakia and the Czech Republic). The value of the assets amounts to €882 million, which represents an initial capitalization rate of around 4%, including surplus land. In terms of value, nearly 30% of the 31 properties are located in France, the largest share of the countries involved. The portfolio includes significant surplus land totaling 95,000 sqm, offering opportunities for longer-term intensification.
The portfolio is 100% leased with an average term of 5.3 years, the average construction date is in the mid-2000s, and the average clear height is 10.5 meters. The properties are leased to a range of tenants with high credit/investment grade ratings, including multinational companies. Food distribution and third-party logistics tenants represent 50% of the portfolio by net rent.
“The transaction provides a unique and transformational opportunity to accelerate Dream Industrial’s European expansion strategy, and enhances its institutional asset management, leasing and internal development platform. Our long-standing relationships with leading European institutions, including Clarion, were instrumental in enabling us to execute this transaction, and we look forward to continuing to grow and enhance our portfolio in Europe,” said Bruce Traversy, chief investment officer for Dream Industrial REIT.
Alistair Calvert, CEO of Clarion Partners Europe, added: “This transaction confirms our market-leading position in bringing together very high quality assets in structurally supported sectors before realizing significant value on behalf of our investors through dispositions to established counterparties.
by matt | May 7, 2021 | deals
Fairway advised Générale Continentale Investissements (GCI) in the signing of a lease with GfK, which will set up its headquarters in the CityLife building (ex Nework), located at 28 allée d’Aquitaine, in the Coeur de Quartier sector of Nanterre-Université (92).
“This is a great story that is being created with GfK. We are delighted to welcome its headquarters to CityLife and are convinced that our building and the teams of Hudi, our catering and service provider, will be able to meet the institute’s diverse expectations. The service dimension of CityLife aims to improve the daily life of its users, as do the workspaces designed to be pleasant, functional and connected. These parameters are essential in the current period to make the return to the company’s offices motivating,” says Rina Benhamou, director of GCI.
CityLife was acquired by GCI in partnership with a North American pension fund.
by matt | Apr 21, 2021 | deals
Fairway advised Abénex and its selling partners in the reorganization of LP Promotion’s shareholding. This transaction ratifies the exit of Abénex, which had joined in 2017, and of the Group’s historical founder, Lucien Ponsot, while ensuring the continuity of the team in place and the entry into the capital of a certain number of Group managers. The transaction also provides significant financial resources to support the Group’s ambitions, with development in new regions and an acceleration of the development and management of serviced residences (students, co-living, intergenerational, seniors).
Following a tight process involving industrialists and specialized financiers, the real estate fund Aermont Capital has been chosen to take over. It relies on financing provided by the historical lenders, Société Générale and Zencap. The management team is accompanying it in this operation, with new executives joining the capital.
by matt | Apr 16, 2021 | news
Once again this year, Fairway is ranked in the Legal 500 EMEA 2021. Our firm is ranked Band 2 in real estate , Band 3 in environment and Band 4 in tax.
Our partners Aubry d’Argenlieu, Frédéric Lefébure, David Franco and Franck Denis are also honored in the latest ranking:
Aubry d’Argenlieu (Hall of Fame, real estate section) : ‘Aubry d’Argenlieu masters all the aspects of the practice. He is a fine negotiator and has wonderful interpersonal skills. He makes issues sound simple which makes clients feel confident.’
Frédéric Lefébure (Leading Individual, real estate section) :‘Frédéric Lefébure provides very high-quality services. His notary background makes him a particularly wise adviser.’
David Franco (Next Generation Partner, real estate financing section)
Franck Denis (Next Generation Partner, real estate section) : ‘Franck Denis is business-oriented, shows a great mastery of issues and is practical and efficient. His contribution brings real added value.’
What Legal 500 says about us :
Fairway A.A.R.P.I. is France’s leading real estate boutique. The firm houses a very large team, able to provide full-service real estate expertise, spanning real estate transactions, asset management, property finance, land development and construction, as well as property finance and tax. In addition, ancillary practices such as environment, litigation and urban planning are also available. The firm acts for a prominent and diverse client base, made up of many leading investors, developers, owners and large companies and deals with work pertaining to any type of logistic, commercial, office or residential asset. Recently, the practice advised on several headline transactions, including a landmark transaction in the retail area, as well as on several large logistic, residential and hotel portfolio deals. It also assisted a key client with leasing negotiations over large warehouse surfaces. The real estate practice is co-headed by the highly experienced Frédéric Lefébure and Aubry D’Argenlieu together with Emmanuel Cazin and the up-and-coming duo Neslihan Gabriel-Denizkurdu and Franck Denis. Other key members include David Franco, the head of the property finance practice, corporate practice head Pierre-Emmanuel Fonteilles, and tax practice head Emmanuel Galifer. Cloé Teisson, Cécile Peyronnet and Sébastien Sehili-Franceschini made counsel in January 2020. Counsel Nicolas Aynès, who joined from LPA-CGR avocats in June 2020, receives praises for his high-level litigation expertise.
