Transaction Reports AMP Capital
AMP Capital acquires 11 School Buildings from RBS
The AMP Capital Community Infrastructure Fund is to acquire a 100 per cent interest in the Partnerships Victoria in Schools Project from the Royal Bank of Scotland (RBS).
This project involves the operations and maintenance of 11 school facilities, including eight primary schools, one secondary college, one primary-to-year-nine school and one primary-to-year-12 school, located in the Greater Melbourne area for the remaining 23- year term.
AMP Capital Social Infrastructure Investment Director Julie-Anne Mizzi said: “The AMP Capital Community Infrastructure Fund has enjoyed a strong and active year and we’re pleased to be adding the Partnerships Victoria in Schools Project to our portfolio”
Minter Ellison advised RBS on the sale of their public private partnership in a team led by Paul Paxton and Daniel Scotti.
In 2008 Paul Paxton led the Minter Ellison team acting for the RBS-led Axiom Education consortium on its successful bid for the Victorian Schools PPP to design, construct, finance and maintain 11 schools.
On being instructed to act on the sale of the PPP in 2013, Minter Ellison worked with RBS and its financial and tax advisors, Rothschild and KPMG, to develop strategies for unwinding the complex equity, debt and hedging structures in place in order to make the project saleable to the broadest range of bidders.
The sale process was particularly complex as it involved the simultaneous sale of both the equity as well as the refinancing of the debt. Minter Ellison’s role was to lead and coordinate the legal and commercial aspects of the sale transaction on behalf of the vendor, they played a key role in ensuring timely execution of the sale by managing bidder negotiations and the State consent process, and conducted a detailed due diligence exercise, all within very tight timeframes.
AMP Capital acquisition of 11 school buildings in Melbourne from
Royal Bank of Scotland Lenders:
Legal advisor to Royal Bank of Scotland:
Legal advisor to the AMP Capital:
Legal advisor to banks:
Capital Shopping Park
Aberdeen Asset Management Acquires Capital Shopping Park
Acting on behalf of a client fund, Aberdeen Asset Management (AAM) recently purchased Capital Shopping Park in Cardiff from PMG for £59.65 million.
Located opposite Cardiff City Football Stadium, the prime shopping park provides approximately 150,000 sq ft (13,935 sq m) of retail, leisure and office space. The scheme was developed in 2008 and comprises 21 tenants including Next, Outfit, Marks & Spencer, SCS, DW Sports, Mamas & Papas, Smyths Toys and Costa. Capital Shopping Park currently generates an annual rental income of circa £3.36 million.
Ewan Montgomery, Fund Director at Aberdeen Asset Management, said: “We are delighted with
the purchase of Capital Shopping Park. This is a rare opportunity to buy the leading shopping park in one of the UK’s major cities and we believe that the property offers excellent prospects for long term growth and improvement. The purchase is in line with Aberdeen’s on-going strategy to invest in prime real estate with strong underlying fundamental characteristics.”
Aberdeen Asset Management PLC is a global investment management group, managing assets for both institutional and retail clients from offices around the world.
Head of Real Estate at Maxwell Winward LLP, Orla O’Sullivan acted for AAM, leading teams from Maxwell Winward and K & L Gates.
Letting agent to PMG: Aberdeen Asset
Management acquires Capital Shopping Park,
Cardiff from PMG for £60m Legal advisor to Aberdeen Asset Management:
Real estate advisor to Aberdeen Asset Management:
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www.finance-monthly.com
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