Bird & Bird advises Numisma Group on International Real Estate Fund and €250million refinancing facility

28 November 2006

International law firm Bird & Bird has been advising Numisma Group on setting up its International Real Estate Fund including a complex range of corporate and tax structures and a recent €250.000.000 re-financing facility of Anglo Irish Bank by Hypo Real Estate Bank International AG.

A Dutch based team of Bird & Bird lawyers and tax advisers has been advising Numisma Group on all Dutch corporate and international tax issues. The work included setting up a tax efficient international real estate fund structure and advising on the acquisition of German and Swiss real estate investments. The team co-ordinated legal advice across several jurisdictions. The recent re-financing includes an €80 million loan secured on German real estate and a CHF36 million loan on Swiss real estate from Hypo Real Estate Bank International AG.

The Dutch based team is being led by international tax adviser, Ernst Barten and corporate partner Erik Limpens.

Commenting on the work, Ernst said:

“For the last year and a half we have been advising Numisma Group and its asset manager, McCafferty Asset Management, on optimising the tax structure for their international real estate fund. Given our relationship we look forward to taking a lead role on structuring their expanding real estate portfolio which is expected to reach a volume up to €800 million by the end of 2007”.

Erik Limpens added:

“Bird & Bird’s track record in these type of projects, involving several jurisdictions in and outside Europe, helped the Numisma Group to complete the various transactions in a timely and efficient fashion”.

Commenting, Charles Whittle, McCafferty Asset Management said:

“We were delighted with Bird & Bird’s support. They have exactly the right sort of experience and international exposure that we need. They’ve been very helpful throughout all stages of this deal”.

For more information on this please contact Natalie Arestis, PR Manager on 020 7905 6248 or natalia.arestis@twobirds.com.

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Notes to Editors

About Bird & Bird

Bird & Bird is a full service international commercial law firm with an in-depth knowledge of chosen industry sectors.

With offices in Beijing, Brussels, Düsseldorf, Frankfurt, The Hague, Hong Kong, London, Lyon, Madrid, Milan, Munich, Paris, Rome and Stockholm, we offer our clients local expertise within a global context helping them to realise their business goals both domestically and internationally.

Bird & Bird was identified as one of the Top 50 Law Firms in the world that has “taken the greatest strides towards globalisation while maintaining quality”, in a recent survey carried out by researchers for the PLCWhich Lawyer? Yearbook.

For more information on Bird & Bird please go to www.twobirds.com.