Clifford Chance and Berwin Leighton Paisner played the lead roles on the $1.5 billion financing CC Land Holdings Ltd.’s purchase of London skyscraper The Leadenhall Building.
In a deal announced in March, CC Land, a Hong Kong-based developer controlled by Chinese businessman Cheung Chung-kiu, acquired the London building from equal joint owners The British Land Company Plc. and Canadian pension fund Ontario Municipal Employees Retirement System.
The Leadenhall Building, also known as The Cheesegrater for its wedge shape on the southern side, is a 225-meter, 48-floor office building located in London’s financial district with tenants that include insurance broker Aon plc and Rhode Island-based insurer FM Global.
Clifford Chance advised Bank of China (Hong Kong) Ltd., HSBC and ING Real Estate Finance as lenders to CC Land, with a team led by real estate partner Jane Cheong in London and finance partner Dauwood Malik in Hong Kong. Tax partner Dan Neidle, derivatives partner Anne Drakeford and real estate partner Alis Pay in London supported the team.
Berwin Leighton Paisner London partner Chris de Pury advised CC Land.
Mayer Brown and Herbert Smith Freehills represented British Land and Ontario Municipal’s subsidiary Oxford Properties Group, respectively.