January 31, 2008
Paul Hastings Advises Apollo Real Estate on deals in Turkey, The Netherlands
London (January 31) -- Paul, Hastings, Janofsky & Walker (Europe) LLP ("Paul Hastings"), a leading international law firm, has advised Apollo Real Estate Advisors on its €267 million purchase of a retail development in Istanbul, Turkey from French supermarket giant Carrefour and Turkish property company Sabanci. The stabilized value of the centre upon completion is estimated to be in excess of €700 million.
Paul Hastings has also advised Apollo on the sale of the Dylan Hotel in Amsterdam for an undisclosed purchase price. The 17th century Dylan Hotel is one of Amsterdam's most stylish boutique hotels, located on one of the city's historic canals. It was acquired by Apollo in 2002.
Paul Hastings regularly represents Apollo in transactions in the UK and across Europe. Previous deals include the £445 million acquisition of the 160-unit Telford shopping centre in Shropshire, England in 2007.
The Paul Hastings team for the Merter transaction in Istanbul was led by real estate partner Mark Eagan, with assistance from partner Emma Bucknall and associate James Thomson on Real Estate and partner Alper Deniz on Corporate.
The Paul Hastings team for the Dylan Hotel transaction in Amsterdam was led by corporate partner Ronan O'Sullivan, with associates Hayley Buckley, Anna Whyte and Patrick Johnson. Employment partner Christopher Walter and associate Anna Sanford advised on employment related aspects of the deal.
Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.