Istanbul, Turkey, 27 November 2015 – Metro Properties
sells M1 Meydan Merter shopping mall to Bahcelievler Gayrimenkul, a
real estate company jointly owned by Mesturkuaz and Ziylan
"Our Firm has a long standing relationship with Metro
Properties in Turkey, and we were pleased to be able to draw on our
extensive M&A and real estate experience to help our client
navigate this complex transaction. The deal structure changed in
the middle of the project, which was originally intended as a
re-development but eventually turned into an acquisition,"
commented partner Birtürk Aydın.
A team of lawyers from Esin Attorney Partnership, a member firm
of Baker & McKenzie International, advised Metro Properties
Gayrimenkul Yatırım A.S. (Metro Properties) on the sale
of M1 Meydan Merter shopping mall to Bahcelievler Gayrimenkul, a
company jointly owned by Ziylan Group, a leading retail group, and
Mesturkuaz. The transaction was closed on July 14, 2015.
The deal was led by Partner Birturk Aydin with support from
Senior Associate Sadi Oz and Associate Kerem Kuscu in Istanbul.
The Firm has a long history of advising Metro Properties on
redevelopment and other real estate projects, including the
re-development project of M1 Merkez Kartal Shopping Mall; corporate
matters relating to real estate investments; and the sale of M1
Meydan Umraniye Shopping Mall along with the assets to Istanbul
Gayrimenkul Yatirim San. ve Tic.
* * * *
About Esin Attorney Partnership
Esin Attorney Partnership has long been a leading provider of
legal services in the Turkish market. Today, as a member firm of
Baker & McKenzie, our team of nine partners and more than 60
lawyers is an integral part of a seamless global network. Our Firm
is recognized locally and globally for our M&A experience, and
we have advised on some of the largest deals in the Turkish market,
involving public and private companies, private equity funds and
other strategic investors. Advising on M&As involving real
property assets is a particular specialty of our Real Estate team,
which is ranked in Tier 1 of the Legal 500 directory for Real
Estate in Turkey.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the
world's most dynamic and successful business organizations
through more than 11,000 people in 77 offices in 47 countries. The
Firm is known for its global perspective, deep understanding of the
local language and culture of business, uncompromising commitment
to excellence, and world-class fluency in its client service.
Global revenues for the fiscal year ended 30 June 2015, were
US$2.43 billion. Eduardo Leite is Chairman of the Executive
Committee. Eduardo Leite is Chairman of the Executive Committee.
About Metro Properties
Metro Properties is the real estate company of Metro Group, a
German diversified retail group based in Dusseldorf. In addition to
its headquarters in Germany, Metro Properties is present in Poland,
Russia, and Turkey. Metro Properties is a key partner for real
estate investments and the development of wholesale and retail
locations in the region. The CEO of Metro Properties is
Established as a made-to-order shoe manufacturer in Gaziantep,
Turkey in the 1960s, Ziylan has grown to become one of Turkey's
leading retail groups with seven footwear companies operating 295
stores. The acquisition of M1 Meydan Merter marks one of the
company's first major investments in the real estate
Mesturkuaz is a construction and real estate company
headquartered in Istanbul with projects in Europe, the Middle East,
CIS, and Africa. Mesturkuaz currently owns a stake in Capacity
Shopping Mall, Canpark Shopping Mall, Sultanbeyli Shopping Mall and
Pashador mixed-use project.
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