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Hogan Lovells advises Hermes on property portfolio acquisition from Metro Cash & Carry France

12 September 2013

Hermes Real Estate Investment Management Limited (Hermes) has acquired from the Metro group a 75 percent interest in a portfolio of 43 cash & carry stores across France, all leased back to Metro Cash & Carry France, by acquiring shares in the real estate investment vehicle (OPCI) holding these properties. The portfolio represents 50 percent of Metro Cash & Carry’s store network in France.

Amundi Real Estate will manage the investment vehicle. Last March, the French asset manager had announced the placement with institutional investors of an OPCI holding a similar portfolio.

Helaba, Société Générale Corporate and Investment Banking and Crédit Agricole Corporate and Investment Banking have extended a loan to refinance the OPCI.

In this transaction, Jones Lang LaSalle advised Hermes, Société Générale Corporate and Investment Banking acted as equity placement agent and financial advisor for the financing for Metro Properties.

The lawyers advising on the deal were:
- Counsel to Hermes Real Estate Investment Management Limited, purchaser: Hogan Lovells (Corinne Knopp, lead partner, Franck Jurquet, real estate, James McDonald, partner practicing in investment funds, Julie Poulet, corporate matters, Sabine Bironneau, partner, Thomas Roy, financing matters, and Bruno Knadjian, tax Counsel)
- Counsel to Metro and the OPCI: Franklin advised on real estate, financing, environmental and corporate real estate issues (Henry Ranchon, partner, Juliette Bril and Laurence d’Orso, Of Counsel, Charles Amar, Suzy Lasry, Sébastien Séhili and Nadia Genesio)
- Counsel to the banks: Mayer Brown (Privat Vigand, partner, with Wladimir Mangel advising on real estate matters and Ina Vignon on financing matters) and Godet Gaillard Solle Maraux (Chloé Thiéblemont, partner).

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