The Client requested legal advice for an investment and purchase transaction of various real estate assets in Spain, through the acquisition of four hundred and thirty-nine bank branches by one of the most important financial entities in Spain.
The transaction, from the point of view of the legal advice offered to the Client, also entailed direct support in the negotiations maintained with the vendor financial entity and, further, the drafting and formalisation of the corresponding contractual documents (deed of sale and the lease contract), reaching an agreement within a short period of time, and doing so despite the complexity and volume of the transaction, meeting the deadline requirement that was set by the Client in order to be able to make this important property investment a reality.
The price of the sale and purchase of all the property (bank branches) amounted to the sum of 428,200,000€ and the annual initial income for the lease of all the branches was fixed for the sum of 34,800,000€ (excluding VAT).
As a consequence of the provisions that were included in the contract of sale, the acquisition of the property (bank branches) allowed the Client to have legal certainty and security in its contractual relationships that were to govern both parties, such as and, in addition to, the successful finalisation of the transaction, it shall obtain very good economic-financial profitability for the investment undertaken, above the usual profitability for these types of transactions in the real estate market.
