Property finance in London

Allen & Overy LLP

Fielding a strong five-partner team, Allen & Overy LLP is ‘a market-leading firm’ which ‘works on the biggest and most complex transactions and provides excellent and user-friendly advice’. Arthur Dyson focuses on senior and mezzanine financings, often in a pan-European context, and Paul Flanagan has a similar focus, with a strong emphasis on advising investment banks and private equity funds. The ‘incredibly knowledgeableMark Manson-Bahr is another key name in the market for Europe-wide instructions, and is able to draw upon his previous experience in the firm’s Frankfurt office. Loan portfolio sales are a key strength of both Simon Roberts, who advises a number of international banks, and David Oppenheimer, whose broad expertise also includes handling intercreditor arrangements. At junior level, senior associate Peter Mailer, who is very strong on cross-border financings, is also recommended.

Other key lawyers:

David Oppenheimer; Peter Mailer

Testimonials

‘A market-leading firm. They work on the biggest and most complex transactions and provide excellent and user-friendly advice.’

‘They are commercial in their approach and are always very responsive.’

‘Mark Manson-Bahr is incredibly knowledgeable and helpful, with a deep understanding of the law and the relevant issues. He is also very commercially minded.’

‘The team provides excellent legal advice and a responsive service, with the breadth and depth to execute complex deals in challenging timeframes with no compromise in service.’

‘Mark Manson-Bahr is my go-to lawyer for technically excellent advice which always takes into account the commercial reality and practical considerations.’

‘Top-notch legal professionals who provide practical advice. Forward-thinking and business-minded. Paul Flanagan, David Oppenheimer and Peter Mailer are all outstanding.’

Clifford Chance LLP

Clifford Chance LLP is ‘best in class for complex and cross-border deals’, where ‘the team’s intellectual horsepower and weight of bodies ensure deals get over the line in the most practical way’. Practice head Andrew Carnegie is ‘the standout heavyweight in this sector’, advising leading banks on senior and mezzanine loan financings. Jane Cheong Tung Sing has a similar focus on senior and mezzanine financings, often within a pan-European framework. European work is also a core strength of Barry O’Shea, who advises traditional lenders as well as specialists in pan-European real estate investment. Emma Matebalavu is also an expert in senior and mezzanine financings, with an additional focus on the CMBS and RMBS markets. Acquisition finance specialist Alistair McGillivray is also recommended. Director Claire Fawcett and senior associate Laura Smallcombe are two particular standouts at non-partner level.

Practice head(s):

Andrew Carnegie

Testimonials

‘A strong cross-border and European practice. CC are the firm we always use when we are going into a new jurisdiction.’

‘Alistair McGillivray is super bright, and great in special situations/non-standard work.’

‘Barry O’Shea is a total professional – very clear, easy to deal with and generally provides a slick service.’

‘Barry O’Shea is my go-to partner. The full team trusts him implicitly and values his experience and judgement. Great attitude, never met an opposing lawyer that Barry couldn’t get along with to get the deal done smoothly, and in fact many competitors speak very highly of him.’

‘A friendly and commercially aware team that provide excellent service in all respects for complex and challenging transactions.’

‘Barry O’Shea can be relied upon to work constructively and with a commercial focus on all types of complex transactions, no matter how challenging the circumstances.’

‘Best in class for complex and cross-border deals where the team’s intellectual horsepower and weight of bodies ensure deals get over the line in the most practical way.’

‘Andrew Carnegie is peerless. Andrew has been the standout heavyweight in this sector for more than 20 years. No one has been so consistently the dominant force, at the top of their game, as Andrew has for so long. He has been the ever-present market leader.’

Key clients

Bank of America Merrill Lynch

Patrizia

Apollo

Deutsche Bank

Goldman Sachs

Morgan Stanley

Blackstone

HSBC

Metlife

M&G

Work highlights

  • Advised Bank of America Merrill Lynch on a £418m senior loan facility to refinance 126 urban logistic and multi-let industrial properties in the UK.
  • Advised Patrizia on all debt financing elements of the pan-European portfolio acquisition of 42 logistics assets from BentallGreenOak.
  • Advised a club of major debt fund managers on extending mezzanine loan facilities to a borrower affiliated with one of the largest real estate investors in the world.

Addleshaw Goddard

Inward investment deals are a key strength of Addleshaw Goddard, which primarily focuses on acquisition and development finance, with a client base consisting of German Pfandbrief banks, as well as a number of Irish, Islamic and Asian banks. Steve Mackie leads the practice and is particularly active in social and student housing projects. Paul Salsbury is a key name for cross-border mandates, having worked with lenders in Europe as well Asian countries such as China, Hong Kong, Singapore and Malaysia. Another notable aspect of the practice is its expertise in the hotel and leisure sector, where Zoe Maurer and Zak Ikponmwosa are key names of note.

Practice head(s):

Steve Mackie

Testimonials

‘Addleshaw Goddard’s team consistently demonstrate very strong commercial awareness, ensuring that they deliver practical, market-friendly advice to their clients as well as exceptional legal expertise.’

‘They proactively manage the transaction to deliver a highly efficient process, resulting in satisfied parties on all sides.’

‘Zoe Maurer is extremely responsive, pragmatic and offers innovative solutions to cut through key outstanding points.’

‘Zoe Maurer is hugely experienced and brings a real presence of authority to discussions when needed.’

Key clients

Aareal Bank AG

AIB Group UK plc

AgFe

Al Rayan

Aviva

Bank of Ireland

Bank of London & The Middle East plc

Bayerische Landesbank

British Arab Commercial Bank

C Land

Canada Life Investments

Cheung Kei Group

CIMB (London, Singapore and Malaysia)

Clydesdale Bank PLC

Coutts & Co

Criterion Capital

Deutsche Hypothekenbank

Europa Capital Debt Investment

Fortwell Capital

Gaw Capital Group

GR Properties

Handelsbanken plc / Svenska Handelsbanken AB

HB Reavis

Hengli Group (owner of Lloyds Bank HQ)

Hillview Real Estate

HSH Nordbank

ICICI

Industrial and Commercial Bank of China Limited, London Branch

Investec Bank plc

Kasamar Holdings

KTB Asset Management

Landesbank Hessen-Thuringen GZ (Helaba)

Lembaga Tabung Haji

McLaren Property

Mount Anvil

Nationwide Building Society

Nord/LB, Hanover

OakNorth Bank plc

Peel

Precis Investments (owners of the Access Self Storage Group, Montcalm Hotels Group and Shaftesbury Hotels Group)

Public Bank

Work highlights

  • Acting for the Industrial and Commercial Bank of China in connection with a senior loan to finance student accommodation.
  • Advised Aberdeen Standard Investments in connection with a £75m syndicated loan facility agreement to certain subsidiaries of RDI REIT plc to refinance a portfolio of four London serviced offices.
  • Acted for University Partnerships Programme (UPP), a provider of on-campus student accommodation, on the acquisition financing of the freehold for 411 student accommodation rooms at the Bay Campus, Swansea.

Ashurst

Advising both borrowers and lenders, Ashurst is particularly strong in development finance, with additional expertise in capital markets and NPL portfolio acquisitions. The team is also able to leverage the firm's global network in cross-border transactions. Managing partner Ruth Harris has advised on all asset classes in development and structured finance. Sarah Watkinson is another key name who is particularly strong in pan-European deals. Jessica Jenner, who is noted for her work advising on 'trophy assets', is also recommended.

Testimonials

‘Ruth Harris takes a direct and hands-on approach. The office network allows for leveraging of knowledge as well as delivering a consistent product across jurisdictions.’

‘Ruth Harris is engaging and tenacious. Keen to deliver value by being cognisant of the client’s internal objectives whilst offering value-add through market knowledge and expert know-how.’

‘They are the most responsive team we have ever worked with. They get deals done and treat you like you are the only client they are currently working for.’

‘Extremely responsive to client needs. Proactive engagement and ability to think around the commercial and legal implications.’

‘Ruth Harris is outstanding, personable and technically excellent. She offers leadership.’

‘Jessica Jenner is a pleasure to work with.’

Key clients

Barings

Kennedy Wilson

Oxford Properties

Almacantar

Tritax

Delancey

Patrizia

Rothesay Life

Cain International

Deutsche Pfandbriefbank

KB Securities

M&G

Santander

Pocket Living

Aviva

Work highlights

  • Advised the Valesco Group, backed by Meritz Securities, on the acquisition of the Finance Tower, a skyscraper located in Brussels’ CBD for €1.2bn, from Breevast and ZBG.
  • Advised Kennedy Wilson Europe on its first SONIA (Sterling Overnight Index Average) loan in relation to its acquisition of Ditton Park in West London.
  • Advised Cain International on the provision of a £385m facility to Henderson Park and Greystar Real Estate Partners to support the acquisition of a site for the development of an 894-home build-to-rent residential project in Nine Elms, London.

Bryan Cave Leighton Paisner LLP

Bryan Cave Leighton Paisner LLP fields a specialist six-partner team, which, combined with the firm's international network, makes it a popular choice for high-scale, multi-faceted real estate financings, attracting household-name clients. Naveen Vijh leads the team and primarily acts on the lender side of acquisition, development and structured financings. Claire Watson and Daniyal Ansari are particularly strong in pan-European deals, with Watson very active in senior and mezzanine debt structures, while Ansari is best known for development and investment financings. Debt financing is also a notable strength of Gordon McMillan and newly promoted partner Payam Yoseflavi. Steve Clarke, who is based in Manchester, is also recommended.

Practice head(s):

Naveen Vijh

Testimonials

‘I find the team to be knowledgeable, commercial, responsive and easy to deal with, as well as friendly and approachable.’

‘Payam Yoseflavi is a standout partner.’

‘A large team with a lot of breath of knowledge and resourcing capacity, and an exclusive focus on real estate financing transactions.’

‘Naveen Vijh has been around a long time and seen everything. He is particularly strong at identifying issues which may cross practice borders (e.g. insolvency, property, construction). Very commercial and good at giving guidance on which issues we should care about and which it may be acceptable to concede.’

‘Gordon McMillan is a very helpful and responsive lawyer who really thinks about all the issues which may arise.’

‘The firm is traditionally very strong on real estate (and by extension real estate finance). They are all good and operate at a comparable level to their peers at other firms who are also highly rated. They are well known on the borrower/sponsor side and have made inroads into the lender market.’

‘Traditionally they acted for leading UK banks but have expanded their lender-side work by acting for institutions.’

‘Naveen Vijh has built up a strong team over the years.’

‘Payam Yoseflavi is a key contact. He takes a very commercial and get-the-deal-done approach.’

‘They have a very strong bench to draw on in London and are all good to work with and easy to deal with. I think this comes from the practical approach taken from the top down in the team.’

Key clients

Allianz

Unite Students

Highbrook Investors

Henderson Park

Cheyne Capital Management Ltd

Homes England

BlackRock

Tristan Capital Partners

Barclays Bank

King’s Cross Central Ltd Partnership

Evergreen Real Estate Partners

Delancey

LaSalle Investment Management Ltd

Work highlights

  • Advised Globalgrange Ltd and its wider group on the restructuring and refinancing of the Grange Hotels group.
  • Advised Henderson Park Capital Partners UK LLP on the financing of its public-to-private takeover of the  Irish Stock Exchange-listed Green REIT plc.
  • Advised FTSE 250-listed Capital & Counties Properties Plc on the sale of its interests in the Earls Court development project to a joint venture between Delancey and APG for £425m.

Eversheds Sutherland (International) LLP

Eversheds Sutherland (International) LLP has a broad real finance practice but is perhaps best known for its work in development finance. Simon Mead leads the practice and, as well as development finance, is highly skilled in mezzanine and senior lending arrangements. Robert Ludwig possesses broad expertise but is particularly strong in intercreditor agreements. The team recently added a new partner through the internal promotion of Chris Brooks, who is notably adept at advising non-bank lenders. Clients also benefit from the firm’s network of regional offices, which allows the team to outsource less complex deals with more competitive pricing.

Practice head(s):

Simon Mead

Testimonials

‘The team is led well and are pragmatic commercial lawyers who are extremely supportive of clients.’

‘Simon Mead is a real expert in his field and a very effective negotiator.’

‘Jane Allan is a very solid lawyer who leads transactions effectively and takes ownership of all key issues.’

Work highlights

  • Advised Aviva on a facility to part-fund the acquisition and development of student accommodation.
  • Advised Maslow Capital on its £123m financing for the construction of a residential tower in Manchester.
  • Advised Barclays and Homes England on a development term loan to Merton Catalyst LLP to finance a large residential development site in South London.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP is especially proficient in pan-European real estate financing, and acts for major lenders and borrowers. The team's notably diverse client base ranges from traditional lenders such as Lloyds, Morgan Stanley and Deutsche Bank to prominent alternative players such as Apollo, Cerberus and Cain International. Key clients from the borrower side include Canary Wharf and Ballymore. Practice head Simon Chadney is highly skilled in senior and mezzanine structures, as well as investment grade financings. Also recommended is Gary Hommell, who focuses on investment and development financings, and Robert Carr, who has acted for major lenders such as Morgan Stanley and Apollo. One key highlight was advising on the £885m senior financing of 100 Bishopsgate in the City of London.

Practice head(s):

Simon Chadney

Other key lawyers:

Gary Hommell; Robert Carr

Work highlights

  • Advised Lloyds on the £525m senior and mezzanine financing alongside AIG and Och-Ziff (now Sculptor Capital Management) of Oaktree’s PegasusLife retirement living business.
  • Advised Brookfield Office Properties in relation to the £515m senior and mezzanine financing of London Wall Place.
  • Advised Deutsche Bank on the  €300m financing of a German property portfolio for Apollo’s Athora real estate business.

Hogan Lovells International LLP

Hogan Lovells International LLP is very skilled in acquisition and development finance, with a client roster including major US investors. Alongside its inward investment work, the team also has expertise in advising public authorities such as Trafford Metropolitan Borough, which it assisted with major refurbishments of the CIS Tower and areas of Manchester Airport. Andrew Flemming, who is an expert in advising overseas investors, leads the practice. Jo Solomon is also skilled in advising foreign lenders, as well as local clearing banks. Andrew Welbourn is now a consultant at Hill Dickinson LLP.

Practice head(s):

Andrew Flemming

Other key lawyers:

Jo Solomon

Testimonials

‘Very practical and commercial advice. They work on a number of complex transactions including construction financing and some specific sub-sectors such as student housing.’

‘Andrew Flemming is excellent. Very practical and easy to deal with. He understands the market and his client’s requirements and gets the job done.’

‘Straightforward and easy to work with. Strong understanding of the commercial drivers of deals.’

‘A hugely capable team with a depth of knowledge and experience that is second to none.’

‘Andrew Flemming is outstanding and an absolute pleasure to work with. He always takes time to really understand all aspects of a transaction including commercial points, has the keenest eye for detail and is an excellent negotiator.’

Key clients

HSBC

Hines European Core Fund

Citi

JP Morgan

DRC Capital

Barclays Bank

Kingdom Holding Company and Kingdom Hotel Investments

Henderson Global Investors

U + I Group Plc

Cain International

Work highlights

  • Advising Wells Fargo on a number of significant real estate financings, including structured student finance investment deals with Hines.
  • Advising Cain International on providing the financing of the development of senior living accommodation in London to Elysian Residences and One Eighty.
  • Advising Trafford Metropolitan Borough Council on the refinance (arranged by CBRE) of the refurbishment of the CIS Tower in Manchester and to support the refurbishment of offices at Manchester Airport.

Linklaters LLP

Linklaters LLP ‘has the ability and resources to take on large, complex transactions with a deep bench when needed’, and draws on the firm's international network to act on pan-European deals. Practice head Steve Smith has a strong background in cross-border mandates, having previously worked in the firm’s Singapore and Frankfurt offices. The 'sensible and commercialScott Simpson also focuses on multi-jurisdictional matters, and has advised major banks, fund managers and private equity houses on senior and mezzanine financings. The 'excellentPhilip Gore was recently promoted to partner and is notably active in development finance work. Mark O’Neill has retired.

Practice head(s):

Steve Smith

Other key lawyers:

Scott Simpson; Philip Gore

Testimonials

‘They provide very practical advice on complex matters and are able to push transactions forward and manage the workload efficiently. They are a very enjoyable team to work with.’

‘Phil Gore is excellent. He is very knowledgeable, and provides concise and sensible advice which is easy to understand. He is able to provide recommendations and is always willing to go the extra mile.’

‘Very commercially focused. Has the ability and resources to take on large, complex transactions with a deep bench when needed. Clear advice given.’

‘Scott Simpson is sensible and commercial. Good at maintaining the relationship with the other side of the transaction. Offers clear advice.’

‘We relied on structuring advice from Scott Simpson, who was advising our property lender. Scott was very knowledgeable and proved very able at running large conference calls with all the parties involved as well.’

‘Steve Smith is fantastic – he gets quickly to what you really care about and finds the path forward that all parties can live with.’

‘The team is extremely hard working and always demonstrate a balance of technical and commercial overlay skills that are second to none.’

‘Linklaters is my preferred law firm to instruct on all real estate finance transactions. Scott Simpson and his team of exceptional associates are a delight to work with and take a commercial and pragmatic approach whilst having a strong focus on attention to detail.’

Key clients

Apollo Global Management

M&G Investments

Goldman Sachs

Bank of America Merrill Lynch

King Street Capital Management

Royal Bank of Canada

Citigroup

HSBC

LaSalle Investment Management

Wells Fargo

Lloyds Banking Group

OakNorth Bank

H.I.G. Capital

Sculptor Capital Management

Cale Street Partners

Generali Group

Nuveen

Work highlights

  • Advised a consotium of Malaysian investors on the £1.583bn acquisition of the iconic Battersea Power Station.
  • Advised Oz Management LP (now Sculptor Capital Management) as lender and underwriter in respect of a £525m facility agreement for PegasusLife Property Holdings Limited in connection with a portfolio of 50 retirement living facilities.
  • Advised LaSalle Investment Management as the arranger in connection with the refinancing of the existing debt facilities relating to the ‘Onyx’ pan-European logistics portfolio and the ‘Hammersmith’ German logistics portfolio

Mayer Brown International LLP

Mayer Brown International LLP is a prominent name for advising Asian investors in the London market, most recently acting for Hong Kong-based LKK on the £600m refinancing of the iconic Walkie Talkie building. Andrew Hepner, who jointly heads up the team, is an expert in acquisition finance and the refinancing of important properties in Central London and Canary Wharf. Also heading the practice is former investment banker David O’Connor, who has a strong focus on loan origination and the CMBS market, particularly in a pan-European context. Andrew Crotty, who focuses on hospitality, healthcare and office properties, is also recommended.

Practice head(s):

Andrew Hepner; David O’Connor

Other key lawyers:

Andrew Crotty

Testimonials

‘Very attentive to and understanding of complex financial issues and how this is reflected in drafting.’

‘Andrew Hepner is very quick to understand the commercial and financial moving parts of construction debt facilities.’

‘It is a very well-structured team with roles clearly defined. Information is passed on swiftly and every question is answered. The team is very professional, pragmatic, business-minded, diligent, responsive, always on top of things, very commercial and solution-driven.’

‘Andrew Hepner is a great leader, negotiator and communicator; understands the client’s business very well; has excellent judgement; finds real solutions and is pragmatic; and has great people skills.’

‘Very commercial lawyers who understand what the client wants. Very clear and comprehensive instructions when there’s action needed, and very organised: all executions are delivered with clear instructions and delivered in one go (provided the deal timeline is not too tight), avoiding confusion.’

‘The MB property finance team provides a one-stop-shop experience. It not only handles the debt financing-related documents but can utilise MB’s in-house resources to take care of corporate due diligence, structure and tax-related legal matters, helping the client to focus and streamline the professional cost as much as possible.’

‘Andrew Hepner and his team provided speedy and professional responses to iron out the difficulties of the process effectively and efficiently.’

Key clients

Citigroup Global Markets Ltd

Morgan Stanley

HSBC Bank plc

Gaw Capital Partners

H.I.G Capital

Canary Wharf Group

Finsbury Tower Estates Limited/CIT

Bank of America Merrill Lynch

Cheyne Capital

JP Morgan

Blackstone Real Estate Partners

Work highlights

  • Advised Blackstone on its first European-agented CMBS real estate transaction.
  • Advising LKK/Infinitus on the £600m refinancing of the iconic Walkie Talkie building (also known as 20 Fenchurch Street).
  • Advised Citigroup Global Markets Limited as arranger on a facility provided to LRC UK Limited, the investment management firm, to finance its acquisition of a property portfolio in Ireland.

Paul Hastings LLP

Paul Hastings LLP's property finance practice primarily handles work concerning debt origination, complex structured joint ventures and funds, and CMBS loans. Practice head Justin Jowitt regularly advises on senior and mezzanine arrangements, especially where several jurisdictions are involved. Jennie Dorsaint is another key name for cross-border financings. Miles Flynn is active on the CMBS side of the practice, most recently advising on a matter involving the Intu shopping centre in Derby. Associate Usman Khan is a promising name at junior level.

Practice head(s):

Justin Jowitt

Testimonials

‘Partners are always available. Associates are also always in a position to assist.’

‘All staff I have encountered have good technical knowledge and are happy to engage with lawyers on the other side in a sensible, practical way.’

‘Justin Jowitt and Usman Khan both have a detailed understanding of what I want in the way of assistance and guidance. Because of this, they are able and willing to liaise directly with the other side’s lawyers, which saves time and delivers positive outcomes for all parties.’

‘They provide advice to me which is always considered and commercial.’

‘The Paul Hastings real estate finance team are a very strong group. They are attentive, commercial and extremely efficient in running financing processes from start to finish.’

‘They work with their industry peers in a very collaborative manner which more often than not results in a good experience for both lender and borrower.’

‘Justin Jowitt is a very astute, hardworking and well-liked individual within his partner peer group in the industry.’

‘Justin is fair and commercial. He takes a hands-on role on all his deals, which gives us the benefit of having dedicated and consistent partner oversight on all transactions.’

Key clients

Starwood European Finance Partners

Bank of America Merrill Lynch International

Investec Bank Plc

Aareal Bank AG

JP Morgan

Morgan Stanley

AIG

Deutsche Bank

Evans Randall

Och-Ziff

Link Mortgage Servicing

Situs

Freehold Corporation

DRC Capital

Oaktree Capital

Fairfield Real Estate Finance

Work highlights

  • Advised Deutsche Bank in relation to a £142.5m CMBS securitising a loan backed by the Intu Shopping Centre in Derby.
  • Represented Fairfield on its loan-on-loan facilities totalling £100m, including a £22.5m agreement arranged by Wells Fargo.
  • Acting for AIG Asset Management on the origination of a £118m real estate finance investment loan to Quintain Limited.

Taylor Wessing LLP

Taylor Wessing LLP is a strong player in the London property finance market, as evidenced by its instruction from Deutsche Bank to advise on the first-ever SONIA-originated loan to refinance Ditton Park in West London. Practice head Jonathan Marks, who acted on that particular mandate, is highly experienced in complex pan-European financings. Heather Buttle is another key name, noted for her expertise in the student accommodation and private rental markets. Also recommended are Amar Ali, who focuses on investment and development finance, and Gareth Lawson, who has particular strength in senior and mezzanine arrangements.

Practice head(s):

Martin Yells

Testimonials

‘A motivated team with a strong skill set and continuity of partners and associates, enabling us to build strong long-term relationships with Taylor Wessing as a valued business partner.’

‘Depth and breadth of the team strengths is excellent.’

Key clients

Cain International

Canada Life

Credit Agricole

Deutsche Bank

Deutsche Hypo

Essential Living

Helaba

Hermes Investment Management Limited

HSBC

Investec

Laxfield Capital

Lloyds Banking Group

McLaren

MetLife

PGIM

RBS

Santander

Secure Income REIT

ING

Wells Fargo

Work highlights

  • Advised Vivion on its entry into the debt capital markets, raising €1bn over two bond issuances against UK and German real estate portfolios valued in excess of €3bn.
  • Acted for Helaba in relation to a loan facility to Peel Media in order to refinance existing borrowing secured against MediaCityUK in Salford.
  • Advised Deutsche Bank on the first syndicated SONIA loan facility made available to a Jersey unit trust owned by Kennedy Wilson to refinance Kennedy Wilson’s acquisition of Ditton Park.

Baker McKenzie

Baker McKenzie has been very active in high-value cross-border deals, as illustrated by its advice to a consortium of Asian banks on financing the redevelopment of Battersea Power Station for mixed use, which is one of the largest ever regeneration projects in Europe. Justin Salked, who advised on that particular deal, is also very strong in hospitality real estate. Practice head Sebastien Marcelin-Rice is highly skilled in multi-jurisdictional deals, particularly pan-European matters, having previously practised in both Milan and Paris, and has similarly assisted on the acquisition and development of hotels.

Practice head(s):

Sebastien Marcelin-Rice

Other key lawyers:

Justin Salked

Testimonials

‘Great team – smart, helpful, commercial and responsive. Seb Marcelin-Rice is extremely competent. Proactive, well-connected in the market, flexible and creative.’

‘Sebastien Marcelin-Rice is very commercial, always in good spirits and has 24-hour availability.’

Key clients

Maybank/ Standard Chartered Bank/ CIMB Bank Berhad/ OCBC Bank Berhad

Meyer Bergman (Real Estate Fund)

Standard Chartered Bank

DPK Management

The Children’s Investment Fund (TCI)

Citigroup Global Markets Ltd

Work highlights

  • Advised a syndicate of banks (Maybank, Standard Chartered, OCBC and CIMB) on the £2bn real estate financing of the high-profile Battersea Power Station residential and office development.

CMS

The broad offering of CMS' 'efficient and dedicated' team typically falls into structured and development finance, with a particular focus on asset classes such as housing and hotels. Simon Johnston jointly leads the practice and has recently been very active in advising Asian banks on local developments. Fellow practice head Clive Swillman has acted for European banks and funds, as well as Galliard Homes, one of the largest residential developers in London. Andrew Besser also acts for a number of European investors, particularly German mortgage banks.

Practice head(s):

Simon Johnston; Clive Swillman

Other key lawyers:

Andrew Besser

Testimonials

‘The team is really efficient and dedicated. Simon Johnston is very knowledgeable and is able to explain the legal points clearly. During some difficult negotiations, he can come up with a solution which is acceptable to both the borrower and the lender and lead to successful completion.’

‘The CMS team gave us all the legal advice required from a UK perspective and managed the relationship with the other parties very well.’

‘A highly commercial team who quickly understand what the key points are for their clients. Solution driven with the interests of their clients foremost. A real pleasure to work with.’

‘Highly integrated as a firm and seamless interaction between the respective teams behind the scenes.’

‘Clive Swillman is able to scan the horizon and spot what issues need to be resolved from the get go.’

‘Clive delivers solutions and options that are always completely aligned with the client’s intentions. Clive always delivers and never shows signs of stress, even when the transaction would warrant this. Clive is a charming individual and makes my job easy!’

Key clients

Lloyds

HSBC

UBS

Santander

Bank of Ireland

Deutsche PfandbriefBank

The Bank of East Asia Limited

Aviva

Dekabank

Franklin Templeton

Work highlights

  • Advised DTGO Group on the acquisition and financing of a portfolio of 17 hotels.
  • Advised Lloyds and Scottish Widows on their lending to PRS Reit PLC.
  • Advised Civitas Social Housing PLC on a five-year facility with NatWest.

Dentons

Dentons has a very broad offering in acquisition and development finance, acting for traditional banks as well as niche student housing specialists and commercial lending experts. Simon Tweedle leads the team and has extensive experience in advising lenders on all asset classes, often in matters involving multiple European jurisdictions. Other key individuals are James Irvine and Simon Masri, who are both particularly active in the hotels sector. Notable properties the team advised on recently include the former US Embassy on Grosvenor Square in Mayfair and 30 Gresham Street in the City of London.

Practice head(s):

Simon Tweedle

Other key lawyers:

James Irvine; Simon Masri

Testimonials

The practice is well placed in multiple locations, which lends itself to expertise in cross-jurisdictional transactions.’

‘Good knowledge all round and able to explain complex matters clearly. Friendly, approachable and helpful, with the knowledge and experience to deliver and ability to network internally and globally.’

Key clients

Lloyds Bank

HSBC Bank

Metro Bank

Royal Bank of Scotland/ NatWest/ Lombard

DBS Bank

Société Générale

Chenavari Investment Managers and its funding entity (AREO Sarl)

Ho Bee Land

Aprirose

McArthurGlen

Harrison Street Real Estate Capital

United Overseas Bank

OCBC

Raven Property Group

Delin

Cheyne Capital

Work highlights

  • Advising a leading international bank on the financing of the enabling works at the Grade II-listed former US Embassy on Grosvenor Square.
  • Advising DBS Bank on the acquisition financing and later refinancing of 30 Gresham Street.
  • Advising Harrison Street Real Estate Capital on the £118.8m development financing by Goldman Sachs of a residential development in Birmingham.

DLA Piper

DLA Piper is particularly well known for Europe-wide transactions involving assets such as hotels, student accommodation, retail and residential developments. A prime example of the team’s cross-border expertise was practice head Toby Barker's advice to Aareal Bank on refinancing InterGlobe’s acquisition of K+K Hotels’ property portfolio, which spanned ten European jurisdictions. Paul Gray also focuses on pan-European mandates, with a particular emphasis on hotels and nursing homes. Meanwhile, Chris Chan has handled many of the practice’s retail and student accommodation instructions. The team is also known for its work on the financing of sports stadiums.

Practice head(s):

Toby Barker

Other key lawyers:

Paul Gray; Chris Chan

Testimonials

‘Commercial approach to things, good team spirit, very good communication, clear responsibilities.’

‘Toby Barker is calm, focused, professional, always available, commercially minded, and has the expertise required to work for us.’

‘A very good international network which makes work on cross-border portfolios very efficient.’

‘Partners are always available for calls and advice. Advice is clear and commercial. Partners always seek to establish good working relationships with the other parties’ lawyers.’

‘Chris Chan understands what I want from a commercial real estate lawyer. He is personable, charming, friendly and unflappable. He delivers our points of view in a calm manner which usually leads to positive outcomes for all parties.’

‘Whenever I have worked with DLA they have been very professional, clear and efficient. Chris Chan in particular has been a great team member to work with. He is very clear about what needs to happen and keeps us informed on how documentation is progressing, which is very helpful.’

‘Solid team with good experience in the sector. Helpful and responsive. Chris Chan is responsive and personable with a good team behind him. Strong practice with multiple disciplines.’

‘Toby Barker is really good and provides firm advice.’

‘The team were extremely responsive and easy to get hold of. I found explanations of any issues concise and to the point, which can sometimes not be the case.’

‘I would say the quality of communication stood out and the quality of work is also good. The partner we dealt with, Chris Chan, was always available to discuss issues and always had time to talk through the deal.’

Key clients

Bain Capital

Cabot Properties

Ecoworld

Kildare Partners

LaSalle Investment Management

Oval Real Estate

Sabadell

Sanne

Aareal Bank AG

Aerium

Allianz

AMRO Partners

Ares

Aviva

AXA Investments

Bank Leumi

Barings Real Estate Advisers

Cheyne Capital

Credit Suisse AG

Deutsche Bank

DRC

Edyn (formerly Saco)

Harel Insurance Company

GAM

Generali

GULF

Harrison Street

Hermes

HIG

ICG Longbow

ING

Investec Bank plc

KKR

Laxfield

Mace

M&G

Mount Street Mortgage Servicing Limited

Och Ziff

Oxford Properties

Round Hill

Shaftesbury

SMBC

Solutus Advisors Limited

Tyndaris

Work highlights

  • Acting for Aareal Bank AG as lender on the refinancing of the acquisition by InterGlobe of the K+K Hotels portfolio.
  • Acting for Solutus Advisors Limited as the special servicer of the £263m Debussy DTC CMBS in connection with the restructuring of the Toys “R” Us property portfolio.

Jones Day

Jones Day acts for major lenders such as Blackstone, Goldman Sachs and Wells Fargo, with a particular strength in mezzanine financings and developments in the private rental, student accommodation and hospitality sectors. Andrew Barker leads the team and has advised on many acquisition finance and investment facilities, often with a pan-European dimension. Highlights included Barker advising Blackstone on its landmark joint venture with Telereal Trillium to acquire Network Rail’s entire property portfolio. Emily Stew is also highly experienced in cross-border mandates, most notably in acquisition and development finance.

Practice head(s):

Andrew Barker

Other key lawyers:

Emily Stew

Testimonials

‘The Jones Day property finance team is one of the best legal teams I’ve ever had the pleasure of working with. The team has an immense knowledge base and is exceptional at providing legal advice, with a great emphasis on the commercial side of things, making it easier to do deals with all of the right legal backing.’

‘The team is excellent across the spectrum and especially knowledgeable around transitional real estate and development finance. The individuals on the team all uphold the highest levels of professionalism, are easy to deal with and always very accessible.’

‘They are all great at boiling down legal nuances into commercial lingo to make it easy for a lender to make the right decisions when negotiating a deal or evaluating a new one. ‘

‘Andy Barker is a pleasure to work with. Good practical advice on a variety of real estate finance transactions in different sectors. Can analyse complex issues and provide practical advice and recommendations.’

‘Andrew Barker is very good. He is knowledgeable and understands the sector very well.’

‘Andrew Barker has a very clear and concise way of presenting complicated constructs.’

Key clients

Blackstone

Delancey

Wells Fargo

Royal Bank of Canada

Greystar

Morgan Stanley

Bank of America

Banco Santander

Henderson Park

Work highlights

  • Advised Goldman Sachs with respect to the financing of Kildare’s take-private of Finnish flexible workspace provider Technopolis.
  • Advised Blackstone on a development financing arranged for Gramercy in respect of the construction of logistics assets in France.
  • Advised Greystar and Henderson Park on a development facility arranged by Cain International to support the acquisition and development of a build-to-rent project in Nine Elms, London.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP continues to grow its reputation in the London market, most recently having advised on the largest UK deal of 2019 for Hospital Topco, the holding company of BMI Healthcare, which sold 30 private hospitals to Medical Properties Trust for £1.5bn. Practice head Jonathan Birks is an expert in advising private equity houses and credit funds on major real estate financings. Kazik Michalski has a similar focus on representing private equity companies, counting Blackstone as a key client.

Practice head(s):

Jonathan Birks

Other key lawyers:

Kazik Michalski

Testimonials

‘Able to deal with the most complex situation and to break it down simply to enable clients to take good decisions.’

‘Very good judgement and thoughtful advice. Excellent from a technical perspective. Always willing to go the extra mile to deliver. Very enjoyable to work with and able to work seamlessly with other practices at the firm, including corporate and restructuring.’

‘Jonathan Birks stands out as able to handle the most complex deal and to see through complexity to give very well-thought-through advice. He is definitely an exceptional strategic thinker. He also has great commercial judgement, which is helpful in achieving the desired goal. He is also able to build strong relationships with counterparties on deals and to be influential to drive outcomes.’

‘A very good team in property finance – the best we have worked with. Jonny Birks is an excellent lawyer with extremely impressive capabilities in providing real estate finance services. He was extremely knowledgeable and constructive throughout the process.’

‘Excellent execution capabilities. Jonathan Birks is an extremely bright, creative and collaborative lawyer.’

‘Kirkland & Ellis has a great real estate finance team. In particular, the partners are very impressive as they tend to take full ownership of the projects they work on. In addition, not only do they help out with the task at hand, they also genuinely try to think ahead and try to add value beyond the initial instruction.’

‘Jonathan Birks stands out in my opinion. He is extremely responsive and committed to the projects he works on. He will always ensure there is sufficient follow up, and he really works with the the investor to think how to prevent future issues and add value.’

‘This practice is differentiated by the breadth and depth of the experience of the team, particularly Jonathan Birks and Kazik Michalski. They work with many of the leading sponsors and lenders in the market, so they know the terms that leading borrowers should be getting.’

‘They have great commercial judgement and know how to get deals done. Jonathan Birks and Kazik Michalski are both fantastic. Extremely responsive, technically sound, and very commercial. I wouldn’t hesitate to recommend them to anyone.’

Work highlights

  • Advised Centerbridge Partners and KKR, as majority shareholders, on the restructuring of Hospital Topco.
  • Advised TPG Real Estate in respect of the debt financing of its acquisition of 75% of Témpore Properties, one of the largest Spanish REITs.
  • Advised GIC on the real estate financing aspects of its €950m buyout acquisition of a pan-European logistics real estate portfolio from Apollo Global Management.

Macfarlanes LLP

Macfarlanes LLP mainly advises on the acquisition and development of build-to-rent schemes, student accommodation and hotels, with a growing emphasis on the green lending space. The team is led by Colin Morgan and Clare Breeze, who both advise borrowers and lenders on the above-mentioned asset classes, often in matters with cross-border elements. They are supported by Jat Bains, who is notably strong in fund raising for real estate portfolios.

Practice head(s):

Colin Morgan; Clare Breeze

Other key lawyers:

Jat Bains

Testimonials

‘When we have dealt with Macfarlanes, they have been responsive and a pleasure to deal with. They offer strong advice, taking sensible views when required.’

‘Strong connection and good coordination between the various real estate teams (ie property, property finance, construction, tax, etc). Colin Morgan has been great to deal with, working well with the various teams.’

‘The right level of engagement, knowing when to lead and when to leave it to their strong line-up of associates. Responsive and fun to deal with. Really strong team, well diversified.’

‘Clear and concise and very easy to deal with. Strength in depth in a partner-led team. Always calm, composed and always able to give clear, technical advice in the context of the commercial position.’

‘Colin Morgan is unflappable and always a pleasure to work with.’

Key clients

Canary Wharf Group

ING Bank N.V.

Genting Casinos

WeWork Property Investors

Venn Partners LLP

Realstar Group

Supermarket Income REIT

Lulu International

Covivio

Westmont Hospitality Group

Constellation Hotels

OCBC Bank

DBS Bank

Legal & General Investment Management

LaSalle Investment Management

National Bank of Kuwait plc

Pluto Finance

Stanhope

Nanyang Commercial Bank

Work highlights

  • Advised Lulu Group International, the purchaser of the Great Scotland Yard Hotel, on its financing from Standard Chartered Bank to fund the acquisition of the hotel.
  • Advised ARK Capital Advisors (formerly WeWork Property Investors) on the financing, provided by Blackstone Real Estate Debt Strategies, of its acquisition and development of 99 Queen Victoria Street, London, which is pre-let to WeWork.
  • Advised Supermarket Income REIT on its £47.6m facility with DekaBank Deutsche Girozentrale to finance the acquisition of a Sainsbury’s in Preston, and to refinance the acquisition of a Tesco Extra in Mansfield.

Norton Rose Fulbright

Norton Rose Fulbright’s global reach has resulted in the team handling a number of cross-border mandates, particularly involving countries in Africa and Asia Pacific. Practice co-head Dan Kennedy has a strong track record in advising on regeneration projects, such as the £1.583bn redevelopment of Battersea Power Station. He is also highly skilled in development finance work. Fellow practice head Sarah Cullen advises on senior and mezzanine financings, with a particular emphasis on residential and hospitality-related projects. Daniel Metcalfe is uniquely focused on properties in the African market, particularly hotels, offices and residential buildings.

Practice head(s):

Sarah Cullen; Dan Kennedy

Other key lawyers:

Daniel Metcalfe

Testimonials

‘Great partner engagement and appropriate staffing at all levels made the process cost efficient. The advice received was pragmatic and commercial. Exceptionally responsive. Sarah Cullen stands out.’

‘Strong real estate finance knowledge and practice. Trusted and efficient in time-sensitive deals and have exceeded expectations.’

‘Sarah Cullen is highly involved as a partner in the transactions, providing client support and deal oversight. She is very approachable and available to address issues, and she works quickly to advise on the best solutions. She has client strategy at the forefront of her thinking.’

‘Sarah Cullen and her team are excellent. Sarah is very calm, pragmatic and extremely knowledgable.’

Key clients

L1 UK Property 2AT Pty Ltd

Battersea Project Holding Company

Battersea Power Station

United Overseas Bank

Bangkok Bank

Natwest

First Rand Bank

The Standard Bank of South Africa

HSBC

Commerzbank

Work highlights

  • Advised Battersea Project Holding Company Limited on the structuring and real estate financing aspects of the £1.583bn acquisition by a joint venture of the commercial assets comprised within Phase 2 of the Battersea Power Station redevelopment project.
  • Advised L1 UK Property 2AT Pty Ltd on the financing for its second fund where facilities were provided by Barclays Bank plc to partly finance the fund’s acquisition of a UK residential property portfolio.
  • Advised The Standard Bank of South Africa Limited and ABSA Bank on a facility to Grit Real Estate Income Group Limited for the development and refinancing of properties in Mozambique.

Pinsent Masons LLP

Pinsent Masons LLP advises major lenders on acquisition and development finance, most recently assisting HSBC and other banks with the provision of the first ever green revolving credit facility in the London market to Derwent London. Practice head William Oliver, who worked on that mandate, is an expert in assisting lenders with the financing and refinancing of residential, office and mixed-use developments. He works alongside Frances Mallender, who advises on senior debt, investment and development finance, and Richard Hughes, who is noted for his expertise in distressed debt and Islamic finance.

Practice head(s):

William Oliver

Other key lawyers:

Frances Mallender; Richard Hughes

Testimonials

‘From a personal perspective Pinsent Masons are one of my select group of go-to firms when I require legal advice in respect of a property financing.’

‘Transactions are invariably well resourced with deal teams comprising individuals with a strong mix of skills and experience, commensurate with the nature of each transaction.’

‘The combination of speed of delivery plus quality and clarity of legal advice is outstanding and results in an overall service level that gives one a real sense of value for money.’

‘A commercial approach and strong advice ensure they are a trusted adviser in the dealings we have with them. They have a broad knowledge base which helps provide support in dealing with challenging situations.’

‘William Oliver is always available and provides excellent input.’

‘They are very commercial and knowledgeable but also practical, and always provide a common-sense approach. Will Oliver and Frances Mallender stand out in the London team.’

Key clients

HSBC UK Bank plc

The Royal Bank of Scotland plc / National Westminster Bank plc

Barclays Bank PLC

AAReal Bank AG

National Bank of Kuwait

Mount Anvil

Homes England

RDI REIT PLC

Qatar National Bank

Wells Fargo

SACO Property Group

Sir Richard Sutton Limited

Hines

Lendlease

Emerites NBD Bank

Ardstone Capital

Work highlights

  • Advising HSBC UK Bank plc, National Westminster Bank plc and Barclays Bank plc on the provision of the first ever green revolving credit facility in the London market to Derwent London.
  • Advising National Westminster Bank on a revolving credit facility for a leading London residential developer.
  • Advising RBS on a facility for a leading self-storage provider.

Reed Smith LLP

With a particular emphasis on advising private investment funds, Reed Smith LLP handles acquisition, development and structured finance, as well as loan-on-loan transactions. Hotels are a particular asset class of interest, and the firm’s international network means the team is well placed to handle European work. Francisca Sepúlveda regularly acts on investment and development finance as well as debt restructuring. She works alongside Kamal Arulvel, who similarly focuses on investment and development finance, and Nicholas Williams, who specialises in private equity real estate.

Practice head(s):

Francisca Sepúlveda

Other key lawyers:

Kamal Arulvel; Nicholas Williams

Simmons & Simmons

Simmons & Simmons acts for a diverse range of lenders, including traditional banks, insurance companies, debt funds and investment banks, on acquisition and development finance matters, often with a pan-European element. Mark Waghorn leads the practice and advises on senior and mezzanine financing as well as restructuring and insolvency work. Paula Macnamara is another key name and is notably strong in the hospitality sector, with expertise in both acquisition and development financing. The team has been very active in the Birmingham market, advising on the financing of the acquisition of the Mailbox and the financing of the construction of the city’s largest residential tower. Key London work has involved advising DekaBank Deutsche Girozentrale and Nuveen Real Estate Limited on the financing of the redevelopment of King’s Cross.

Practice head(s):

Mark Waghorn

Other key lawyers:

Helen Hagan; Paula Macnamara

Testimonials

‘Very commercially minded, practical and likeable. Good at making connections and introductions.’

‘Helen Hagan and Mark Waghorn are reliably available, responsive, commercial and generally a pleasure to work with.’

‘We worked closely together in a very short and intensive period and it was the advisory side of the work that impressed me most. They knew instinctively which parts of the finance agreement were the most important to us in the long term and we focused on achieving a fair agreement as a result. ‘

‘We worked with Paula Macnamara and appreciated the attention to detail, the ability to understand what was important for us and the tenacity and good humour that went into the project.’

‘The S&S real estate team is one of the best I have dealt with in 30 years of lending. They are extremely client focused and professional and can always be relied upon to protect the interest of the lender. ‘

‘Mark Waghorn is an exceptional leader. He is very attentive and supportive to our needs.’

‘I have enjoyed working with the Simmons & Simmons team. They have good market knowledge and the team are commercial and get the deal done. ‘

‘Mark Waghorn is an excellent relationship partner and I enjoy working with him. He is rightly well respected in the industry; he comes up with good solutions to issues which arise and gets the deal done. Paula Macnamara is solid and good to work with too.’

Key clients

M7 Real Estate Limited

ING Bank

Valor Real Estate Partners LLP

Legal & General

Cheyne Capital

Deutsche Hypo

Tishman Speyer

AgFe

Ingenious Real Estate Finance

Dekabank

Nuveen

Work highlights

  • Advised M7 Real Estate Limited on the acquisition term facility of The Mailbox in Birmingham.
  • Advised DekaBank Deutsche Girozentrale and Nuveen Real Estate Limited on a £284m eight-year term loan for a subsidiary of the King’s Cross Central Limited Partnership (KCCLP).

Stephenson Harwood

James Linforth leads the practice at Stephenson Harwood and has advised on a number of high-profile developments in the London market, most recently assisting an international consortium led by HSBC on the financing of the Langham Estate in Fitzrovia. He has also advised investors on property further afield, in both Europe and Africa. Other key members of the team include Jayesh Patel, who is the team's relationship partner for Wells Fargo; Paul Hayward-Surry, who advises on residential and hotel developments; and investment and development financing specialist Jonathan Proctor.

Practice head(s):

James Linforth

Testimonials

‘Excellent team who provide sensible advice on transactions. They have a very can-do attitude and understand their clients’ needs and requirements. They are also very sensible around fees.’

‘James Linforth is very good. Very easy to work with and always on top of the transactions. There is an excellent liaison between associates and partners and also between the finance and property teams.’

‘James Linforth is a joy to work with, always providing a friendly approach, appreciative of issues that may face both borrower and lender, and with practical solutions.’

‘The team always work well with the other side, and are always willing to make themselves available for us. Fees are sensible. ‘

‘Good value for money. Very approachable and understand how we work, including how particular individuals work. Jon Proctor does a good job for us.’

Key clients

Wells Fargo Bank N.A.

ING Bank N.V., London Branch

Native Land

Canada Life

Barings Real Estate Advisers LLP

Schroders plc

Bank Leumi (UK) plc

Hill Group

HSBC UK Bank plc

The Royal Bank of Scotland plc/NatWest/Coutts/RBSI

Work highlights

  • Advising Grit Real Estate on the $140m financing of a large portfolio of real estate assets in Mozambique.
  • Advised an HSB-led syndicate on a £750m facility made available to Mount Eden Land Limited, secured over the Langham Estate.
  • Advising Hill Marshall LLP (a joint venture between Hill housing group and Marshall Aviation) on the complex structured financing of the development of up to 12,000 new homes and the relocation of Cambridge Airport.

White & Case LLP

White & Case LLP often utilises its international network of offices to handle pan-European and sharia-compliant deals, and is particularly prominent in advising on NPL portfolio financings. Jeffrey Rubinoff leads the practice and is a key name in the market for NPL financing, with broad experience acting for sponsors and lenders on local and European deals. Other key team members include the 'extremely accomplishedVictoria Landsbert, who advises alternative investors and family offices, and the 'diligent, detail-orientedSudhir Nair, who is notably strong in handling distressed assets.

Practice head(s):

Jeffrey Rubinoff

Other key lawyers:

Victoria Landsbert; Sudhir Nair

Testimonials

‘No-nonsense approach to servicing the needs of the client.’

‘Vicky Landsbert is extremely accomplished, highly technical and user friendly.’

‘Sudhir Nair and Victora Landsbert are very diligent, detail-oriented and prompt at meeting all deadlines.’

Work highlights

  • Advised Royal Bank of Canada in relation to the financing of the acquisition and development of student accommodation premises known as The Curve in Whitechapel.
  • Advising Aviva in its capacity as lender in relation to a real estate loan-on-loan financing to fund a residential development in London.
  • Advising Bank of America Merrill Lynch and RBS in connection with the financing provided to Ares for the acquisition and ongoing capex needs of a pan-European portfolio of logistics assets.

Fieldfisher

Fieldfisher has been highly active in advising on the financing and refinancing of hotels, care homes and student accommodation, especially for European and US investors. The team predominantly acts for banks and debt funds on development, acquisition and debt financing instructions. The 'highly competent and experiencedPhilip Abbott leads the team alongside John Nelmes; other key contacts include Christian Francis and Iain Thomas.

Practice head(s):

Philip Abbott; John Nelmes

Other key lawyers:

Christian Francis; Iain Thomas

Testimonials

‘The team show enthusiasm and demonstrate the ability to handle a range of real estate finance matters in a timely and efficient manner.’

‘Phil Abbott is an experienced real estate finance partner with good technical and commercial knowledge, who is approachable and pleasant to work with.’

‘Excellent teamwork between the banking and real estate teams. Committed to getting the deals done.’

‘Market-leading turnaround and speed of response. Phil Abbot is highly competent and experienced with strong technical knowledge, especially on complex issues.’

‘We work with Phil Abbott, who is one of the big names in the real estate finance market and knows all the players.’

‘Client service is brilliant and they always perform to our tight deadlines. They are an extremely friendly team who are willing to work collaboratively and support us in finding unique resolutions to issues we experience. They are always at the end of a phone and willing to help. ‘

‘Phil Abbott takes an extremely tailored and personal approach to matters.’

Key clients

PBB Deutsche Pfandbriefbank AG

Lloyds Banking Group

Europe Arab Bank plc

ICG Longbow

Dominvs Group

Bank of America Merrill Lynch

GAM

Avery Care Homes

Proark Properties Aps

CA Ventures

Work highlights

  • Acted for an overseas investor, borrowing from a debt fund, on the purchase of debt secured on six hotels in the UK from a hedge fund and a subsequent restructuring.
  • Advised Dominvs Hotels on the financing of the acquisition of a site near the US Embassy in Nine Elms, London, to be developed as a hotel.
  • Advising the London branch of a US bank on the financing of a portfolio of UK properties, owned in a complex trust arrangement through offshore vehicles.

Fladgate LLP

A key player in the mid-market space, Fladgate LLP primarily advises on residential, office and hotel developments, often through senior, mezzanine, and bridge financing structures. The 'highly experiencedKim McMurray leads the team and has advised lenders and borrowers on senior and mezzanine financings. Daniel Polden and Gary Smith are also names of note, particularly for cross-border mandates.

Practice head(s):

Kim McMurray

Other key lawyers:

Daniel Polden; Gary Smith

Testimonials

‘Fladgate stand out as the go-to firm for providing an efficient, friendly and robust service across all disciplines, with expert lawyers providing specialist advice across all real estate sectors.’

‘Kim McMurray is a highly experienced lawyer. I highly value her experience, excellent client service and strong ethical and moral compass.’

‘Kim always approaches each transaction with a commercial head on and is invaluable in cutting through the noise to get deals done in an efficient manner.’

‘The team understand what working with a client means. It is a partnership and they work alongside us to ensure transactions run smoothly. The quality of legal advice is first class but what sets them apart is the way they communicate with us and with their counterparts.’

‘There are some high-quality individuals within the team but the key is that they work as a team, which is essential. Daniel Polden, especially, is a superb lawyer but what makes him stand out within the industry is that he takes a highly commercial and entrepreneurial approach both to his legal advice and to his relationships. This means from a deal point of view often it is Daniel’s creative approach that helps navigate through tricky roadblocks; from a relationship point of view, Daniel will see connections and effect them, bringing an enormous amount of additional value to our team.’

Key clients

Santander

Alpha Real Capital

Bank of Ireland

London & Regional

Venn Partners

Europe Arab Bank Plc

ICG Longbow

Greenoak Real Estate

CIMC

London Wall

Bank of Singapore

JP Morgan

EFG

Ortus

Octane

Harbour Group International

Work highlights

  • Acted for London & Regional Properties on the refinancing by BNP Paribas of the Fairmont Monte Carlo Hotel in Monaco.
  • Advised Weston Homes on the restructuring of the group corporate loan secured on the property portfolio of the business.
  • Advised Wheat Quarter Limited on the establishment of a £21m facility agreement between Wheat Quarter Limited, Wheat Quarter Properties Limited and Octopus Real Estate to refinance a property.

Goodwin

Debt finance is a particular strong point of Goodwin, as illustrated by practice head Paul Lyons' recent advice to Medical Properties Trust on the debt finance facilities surrounding its £1.5bn acquisition of hospitals from BMI Healthcare. Other areas of expertise include mezzanine financing, refinancing and CMBS loans. The team’s client base is mainly comprised of alternative investors from Europe and North America. Colin Baker has joined Reed Smith LLP.

Practice head(s):

Paul Lyons

Other key lawyers:

Richard Semple

Work highlights

  • Advised BentallGreenOak on the acquisition of a portfolio of 42 premium logistics assets across four Western European jurisdictions.
  • Advised Medical Properties Trust on the debt finance facilities provided in connection with its acquisition of a portfolio of 35 acute care hospital facilities from BMI Healthcare.

Gowling WLG

With a client roster consisting of traditional banks, debt funds and REITs, Gowling WLG is highly skilled in the investment and development financing of residential, hotel, retail and office properties. Practice head Nick Turner regularly acts for debt funds and is particularly strong in handling distressed assets. Other key individuals include Jon Lent, who specialises in student accommodation, and Matthew East, who is noted for his work on the financing of hotels.

Practice head(s):

Nick Turner

Other key lawyers:

Jon Lent; Matthew East

Testimonials

‘Responsive and commercial. A fantastic understanding of the repercussions of various clauses within loan documents and how they translate into potential risks for the client, and more importantly whether it is something worth spending time debating.’

Key clients

ICG-Longbow

HSBC Bank plc/HSBC UK Bank plc

Bank of East Asia

LBBW

Aberdeen Standard European Logistics plc

Quadrant Real Estate Partners

Gravis Capital Management

London and Cambridge Properties

Empiric Student Property PLC

Deutsche Hypo

HC-One Limited

Hayfield Homes Limited

Inland Homes plc

Work highlights

  • Advised a real estate debt fund on a loan facility to finance the share acquisition of Wise Living Homes, the acquisition of further properties and the construction of residential housing.
  • Advised HSBC on the refinancing of loan facilities secured on the Marriott Hotel, West India Quay, London, and the Hilton Hotel, Deansgate, Manchester.
  • Acted for Inland Homes plc in relation to its revolving credit facility with a clearing bank.

Latham & Watkins

Latham & Watkins’ particular forte is in handling complex commercial mortgage transactions, often with a pan-European dimension. As global co-chair of the firm’s real estate practice, Jeremy Trinder is well placed to handle cross-border mandates, as evidenced by his recent instruction by Cerberus on acquisition and loan-on-loan financing for Spanish property portfolios. Quentin Gwyer is an expert in both the debt and equity aspects of real estate financing.

Practice head(s):

Jeremy Trinder

Other key lawyers:

Quentin Gwyer

Testimonials

‘Strong market knowledge. They work on complex transactions and they have a great network. Their partners are very good and their associates are top quality so you get consistent high-quality work and attention to detail.’

‘I think the one thing that sets them apart is that they do a lot of borrower work as well, so when acting for the lender they tend to deliver the tough messages in a way that borrowers understand.’

‘Jeremy Trinder is very commercial and has a wealth of experience.’

‘The practice is led by a technically excellent, affable and practical partner in Jeremy Trinder. There is no issue too big or small that he won’t help with. Resources are appropriately allocated and timelines are managed properly. Communications are quick and clear.’

Key clients

BAWAG PSK

Blackrock Real Estate Debt

Blackstone Real Estate Debt Strategies

Cerberus

KSL

Lineage Logistics

Mount Street Mortgage Servicing

Partners Group

Platinum

Onex Corporation

CBRE Loan Servicing Limited

Ashkenazy Acquisition Corporation

AGC Equity Partners

Round Hill Capital

HPS Investment Partners

Energy Capital Partners

Work highlights

  • Advised Lineage Logistics on its senior loan for cold storage facilities in England.
  • Advised Cerberus on a senior loan into a real estate joint venture established by Cerberus and Banco Sabadell to acquire Spanish properties.
  • Advised BAWAG on loan-on-loans secured over Irish loans and property.

McDermott Will & Emery UK LLP

McDermott Will & Emery UK LLP's team is led by Laurence Rogers, who is highly experienced in investment and development finance and has handled mandates involving jurisdictions across Europe, Africa and the US. He has expertise in a variety of asset classes, including offices, hotels, warehouses, student accommodation and retail outlets. A large proportion of the team's client base is made up of debt funds and overseas investors.

Practice head(s):

Laurence Rogers

Testimonials

‘The practice majors in complex, high-value financing transactions with an international bias. Laurence Rogers is a market-leading specialist with an insightful knowledge of the real estate finance sector.’

‘On large portfolio financings, Laurence Rogers demonstrates an unrivalled command of the points in issue and delivers results time after time. A strong and loyal team.’

‘Commercial and efficient. Very partner-led service.’

‘Laurence Rogers is clear and commercial in his approach and very available.’

Key clients

Octopus Group

Alta Semper

Angleton Park

Atelier Capital Partners

Joseph Homes Limited

Ladder Capital

Promasidor Holdings Limited

Dominvs Group

Resolution Property FM Limited

Starz Mortgage Capital Ltd.

Yianis Group

Borgers Limited

Softbox (Midco) Limited

Soller Ten Limited

Tishman Speyer Limited

Work highlights

  • Advised Borgers on the UK aspects of the restructuring of a £500m German law facility.
  • Advised Atelier Capital Partners on its £100m note financing of a real estate commercial and residential bridge lending business.
  • Acting for Ladder in relation to its investment loan to Randhurst Village.

Mishcon de Reya LLP

With both lenders and borrowers among its clients, Mishcon de Reya LLP’s core areas of focus include acquisition, development and investment finance. Leading the team is Nick Strutt, who specialises in the aforementioned areas as well as in restructuring and enforcements. Raji Bartlett, who is particularly strong in advising on student accommodation developments, is also recommended.

Practice head(s):

Nick Strutt

Other key lawyers:

Raji Bartlett

Testimonials

‘The firm offers a multi-disciplinary but integrated team. The team are very professional and experienced, and this comes across in their efficiency and confidence to deal pragmatically with the challenges faced in transactions.’

Key clients

Uninn Investment Fund

Catalina Reinsurance

Spear Street Capital

Bank of London and the Middle East Plc

Structadene (LBG) Properties Limited

PGIM

Helical Bar PLC

The Collective

Delancey Estates

Equites Property Fund

SLQR Trust No. 1 (Seaforth/Quadreal Property LLP)

Unnin Investment Fund

Brookfield (Student Roost)

Work highlights

  • Advised Uninn Investment Fund on the senior and mezzanine financing of a portfolio of student assets.
  • Advised AGF Insurance on its mezzanine loan towards the financing of Avignon Capital.
  • Advised TVP Office Reading Sarl on its development financing with Wells Fargo.

Osborne Clarke LLP

Osborne Clarke LLP has broad property finance capabilities, acting for both lenders and borrowers, often on multi-jurisdictional matters. Nick Padget now leads the team while former practice head Madeleine Clark is head of banking. Padget primarily focuses on the investment and development financing of hotel, logistics and residential properties, and Clark has advised on matters involving retail, residential and hotel assets in both the UK and Western Europe. Clients include major clearing banks, investment banks and REITs.

Practice head(s):

Nick Padget

Other key lawyers:

Madeleine Clark

Testimonials

‘The teams are very cohesive, and it is clear they do not work in silos. Whilst (in my case) the finance partner will take the lead, the supporting teams (property etc.) take responsibility for their own output and will liaise with you directly should there be issues, rather than routing it through other partners.’

‘Knowledgeable, experienced input with a very proactive attitude. More than happy to provide pro bono advice (very helpful to the intermediary world) and support clients throughout the entire deal process. Competitive quotes given the standard of service received.’

‘The joined-up approach of the firm also enables expertise from different areas to add value to the transaction process.’

Key clients

Warehouse REIT plc

Tunstall Real Estate

M&G

Max und Moritz GmBH

AG Maxis Cooperatieve U.A.

Cording Real Estate

Coutts & Co

Mount Street

Marchmont Investment Management

Work highlights

  • Advising AIM-listed Warehouse REIT plc on the structuring and implementation of a £220m four-bank syndicated debt facility.
  • Advising Tunstall Real Estate Asset Management in its role as a non-bank lender regarding the financing of the £30m acquisition of a retail park in Northern Ireland.
  • Acting for Max und Moritz on the completion of a €240m development loan to refinance the existing debt of a mixed-use residential development in Berlin.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP has a strong foothold in the private equity market, acting for major PE houses such as Blackstone and KKR. Tom Lloyd leads the practice and is highly experienced in advising on trans-Atlantic and pan-European deals. In recent highlights, Lloyd advised Blackstone on a series of high-value acquisition finance mandates involving properties across Europe.

Practice head(s):

Tom Lloyd

Testimonials

‘Simpson Thatcher are exceptional at what they do. We couldn’t function as a team without them. They are extremely efficient, knowledgeable, listen to feedback and have great ideas.’

‘Tom Lloyd is extremely responsive and efficient to work with. He gives good advice and is transparent with his approach.’

‘They are a very high-quality team with exceptional breadth of experience. They have been responsible for driving the premium sponsor market.’

‘Tom Lloyd heads the team and is a first-class lawyer – highly knowledgeable, commercially pragmatic and an effective negotiator.’

Key clients

Biomed

The Blackstone Group

Joint venture between Blackstone and Telereal Trillium

Goldentree Asset Management

Kohlberg Kravis Roberts

Northwood Investors

Round Hill Capital

Sponda Plc

Testa Residencial SOCIMI

Work highlights

  • Advised Blackstone on the financing of its C$6.2bn acquisition of Dream Global REIT.
  • Advised Blackstone on the refinancing of its “Onyx” pan-European urban logistics portfolio for €625m and DKK981m, as well as the refinancing of its “Sunflower” UK logistics portfolio for £483.1m.
  • Advised the 5,200-property joint venture between Blackstone and Telereal Trillium on refinancing its existing debt in full with a new debt facility.

Slaughter and May

Slaughter and May acts for major investors in the local market, with a growing focus on sustainable finance. The team has experience advising on asset classes including residential, retail, industrial and commercial properties. Matthew Tobin leads the team and has a particular interest in capital markets and sustainable finance, having advised on green tranches that adhere to LMA green loan principles.

Practice head(s):

Matthew Tobin

Testimonials

‘Slaughter and May are a brilliant firm to work with. Extremely knowledgeable about our business and the products. Great communication and always available.’

‘Really add value in everything they do. Matthew Tobin has been advising us for many years. He is incredibly knowledgeable and extremely diligent.’

‘Very easy to communicate with and very proactive.’

‘I have worked with them many times and they always deliver at the highest standards.’

‘Great team overall. The team is very experienced across all areas so there is no need to contact other teams. This speeds up the process and means the advice covers all bases from the start. They respond quickly and their advice is always focused and concise. They really make the effort to understand the requirements of the business and show good initiative and creativity in the solutions proposed.’

‘I have always found them to come across as keen to help. Nothing is ever too much trouble and as a client I feel that they are as concerned about finding the right solution as we are.’

Key clients

Arcadia Landlord Steering Group

Barratt Developments

Countrywide

Derwent London

Elysian Residences

Goodman European Logistics Fund

Harbour Castle

Halsbury Homes

Midlothian Capital Partners

SEGRO

Work highlights

  • Advised Derwent London on its new five-year revolving credit facility, which includes a green tranche.
  • Advised Derwent London on the issuance of £175m 1.50% convertible bonds due 2025.
  • Worked with PJT Partners in order to advise an informal steering committee of landlords in relation to the restructuring of the Arcadia Group.

Alston & Bird LLP

Alston & Bird LLP has significantly expanded its London property finance practice through the hiring of Andrew Petersen and James Spencer from K&L Gates LLP. Petersen is adept at handling private equity and private debt financing, while Spencer specialises in development finance and has acted for traditional and alternative lenders. The team has been very active in pan-European mandates, as well as instructions that involve the US, Singapore and Hong Kong. Asset classes of interest include hotels, offices and retail properties.

Other key lawyers:

Andrew Petersen; James Spencer

Testimonials

‘Knowledge, professionalism and engagement. Andrew Petersen stands out.’

‘There is an excellent breadth of experience within the team, with good lawyers at appropriate levels. Their market knowledge is excellent, with an impressive ability to turn to all matters in the finance space.’

‘Excellent market knowledge, flexibility, and drive to get deals across the line.’

‘It’s the balance of skill, experience and partner oversight that makes the team special. You know you are in safe hands.’

James Spencer and Andrew Peterson are amongst the best real estate lawyers I have worked with. They are experienced and know how to get the deal done.’

‘In all situations I have been able to get very senior partner level time on any issues that I’ve found to be important to the deal at hand.’

Key clients

Bank of America

Credit Suisse

Hunt Real Estate Capital

JP Morgan Chase

Ladder Capital Finance

Morgan Stanley

Mount Street Mortgage Servicing Ltd

Nomura Securities

Starwood Mortgage Capital

Wells Fargo

Work highlights

  • Advised CBRE Loan Services Limited as servicer and special servicer on the strategic reorganisation of the senior loan to provide partial acquisition financing for the Dayan family to acquire Lapithus Hotels Management and 20 hotels.
  • Advised Mount Street as agent and security agent under a €143m loan-on-loan facility and loan administrator under the portfolio of underlying loans.
  • Advised a leading UK bank as the arranger, original lender, facility agent, security trustee and original hedge counterparty in the approximately £80m investment financing of three large retail outlets.

Bird & Bird LLP

Bird & Bird LLP commands a steady stream of acquisition and development finance mandates and is particularly strong in Islamic finance. Joss Hargrave jointly leads the practice with Jonathan Baker, who has broad capabilities across acquisition and development finance. In recent highlights, the team advised Gulf Islamic Investments on its acquisition of Priory Court and The Lewis Building in Birmingham.

Practice head(s):

Joss Hargrave; Jonathan Baker

Other key lawyers:

James Salford

Key clients

Gulf Islamic Investments LLC (GII)

Bank of London and The Middle East plc (BLME)

Ahli United Bank (UK) PLC

National Bank of Kuwait (International) PLC (NBK)

Santander

Shawbrook Bank Limited

Work highlights

  • Acting for Shawbrook Bank Limited in connection with the £18.2m refinancing of a commercial real estate asset.
  • Advised Ahli United Bank on refinancing the purchase of three central London investment properties by Guernsey-based obligors with sharia-compliant ijara lease structures.
  • Advised Santander on the amendment and restatement of a facility to the EasyHotel group for a term loan and accordion facilities totalling in aggregate £43m.

Brecher LLP

Brecher LLP's 'approachable' team, which is 'great at solving problems and finding solutions', predominantly advises mid-market lenders on the development finance of residential properties, often through senior, mezzanine and bridge financing. These developments include student accommodation, senior living and build-to-rent spaces. Key members of the team include practice head Richard Gilchrist and managing partner Nicky Richmond.

Practice head(s):

Richard Gilchrist

Other key lawyers:

Nicky Richmond

Testimonials

‘Brecher LLP provide a fast, efficient and quality service, with an approachable team which is great at solving problems and finding solutions.’

‘Experienced team, very dependable. Safe pair of hands.’

Key clients

A.S.K. Partners Limited

Castle Trust Capital Plc

Close Brothers Limited

Downing LLP

Glenhawk Financial Services

Hampshire Trust Bank Plc

Heritable Development Finance Limited

Investec Bank Plc

Ironbridge Finance

Jordan International Bank plc

National Westminster Bank Plc

Paragon Development Finance Limited

Pluto Finance

Puma Property Finance

Shawbrook Bank Limited

United Trust Bank Limited

West One Loans / Aura Finance

Urban Exposure Plc

Work highlights

  • Advised United Trust Bank on the development financing of an extra care village development near Braintree, Essex, by a charity.

Burges Salmon LLP

Based in London and Bristol, Burges Salmon LLP handles a steady stream of investment and development finance, acting for major banks as well as non-traditional lenders. Paul Browne jointly leads the practice and has a particular focus on properties such as hotels, student accommodation and healthcare facilities. Practice co-head Richard Leeming has expertise in residential properties, and has acted for traditional banks, private banks and debt funds. Colin Ligman, who advises lenders on debt and property holding structures, is also highly recommended.

Practice head(s):

Paul Browne; Richard Leeming

Other key lawyers:

Colin Ligman

Testimonials

‘Richard Leeming and Paul Browne give clear, informed and dexterous advice on issues based upon a great depth of experience with a commercial perspective.’

‘Their collaborative and solution-focused attitude comes through strongly.’

‘All members of the team are very responsive and approachable.’

Key clients

Lloyds Banking Group

HSBC Bank plc

The Royal Bank of Scotland plc

DRC Capital

Gravis Partners LLP

ICG Longbow

Helaba

Metropolitan Life Insurance Company

Urban Exposure

Work highlights

  • Advised MetLife on an investment real estate refinance facility agreement in respect of Jersey property assets totalling £131m.
  • Advised Barratt Developments on its development loan to a UK joint venture with Transport for London to finance a residential development in London.
  • Advising DRC UK Whole Loan Fund on its real estate investment finance facility for a Guernsey borrower to finance a significant commercial office in Glasgow.

Charles Russell Speechlys LLP

Charles Russell Speechlys LLP has been highly active in advising alternative lenders, mainly on acquisition and development financing, as well as refinancing. Paul Kay leads the practice and is particularly skilled in cross-border mandates, more specifically acting for Asian investors. Jon Bond is another key name and has been advising on asset classes such as student accommodation, residential and office properties.

Practice head(s):

Paul Kay

Other key lawyers:

Jon Bond

Testimonials

‘The team are very coordinated in their approach and seek the best solution for the client. Their capacity to listen to and address client concerns is impeccable.’

‘Jon Bond is a very logical and methodical lawyer. His ability to problem-solve is excellent. His willingness to go to extra lengths to find a solution which is advantageous for the client is why we do not look elsewhere. They are quick to respond and diligent in highlighting points that need to be addressed.’

Key clients

Lloyds Bank

Octopus Property

Topland Jupiter Limited

Puma Investments

Metro Bank

Lombard North Central

The Rumi Foundation

Northridge Capital

Aeriance Investments SA

Henley Investments Limited

Country Court Care Homes Limited

Ekistics Property Advisors

OakNorth Bank

Salamanca Group

Downing

Caring Homes Group

London & Oxford Capital Markets

Opera

Work highlights

  • Advised London & Oxford on three City of London office acquisitions and one Canary Wharf office acquisition.
  • Advised Octopus Property on a senior secured loan to refinance the costs of the acquisition of a site in Coventry and fund its subsequent development into student accommodation.
  • Advised Puma Property Finance on a number of complex property acquisition and development facilities for a broad range of asset classes, including student accommodation and care homes.

Clyde & Co LLP

Islamic finance is a standout strength of the team at Clyde & Co LLP, and recent highlights include working alongside the firm's Abu Dhabi office to assist with ABC International Bank's investment into distressed assets across London. Chris Lenton leads the practice and advises clients from the Middle East, Europe and Far East, particularly on residential and mixed-use developments.

Practice head(s):

Chris Lenton

Testimonials

‘They provide comprehensive advice and get to the crux of the matter. They work efficiently and are excellent value for money.’

‘No matter is too small and they give their time willingly whenever a favour or quick sanity check call is required. The team have in-depth knowledge of the lending market and terms being offered.’

‘Chris Lenton and his team provide a friendly and efficient service. Always available to deal with funding proposals urgently and provide a detailed overview of terms being offered, with easy-to-understand explanations.’

‘Strength in depth across every member regardless of discipline or level of seniority, quick and effective responses to issues, proactive in seeking out innovative opportunities to advance negotiations.’

‘Deep knowledge of the current market issues which surround the legal framework, energetic and pragmatic application of key legal positions, flexible approach to problem solving.’

Key clients

U+I Group

Regal London

Secure Trust Bank

Urban&Civic

Roundshield Partners

Freshwater Group

One 55 Fenchurch

Aldgate Developments

Marcol Group

Lendinvest

Work highlights

  • Advising on a £118m funding from ICG-Longbow for the development by Regal London of 112 private residential flats for Regal WL Limited and 170 social and affordable flats for a charity.
  • Advising ABC International Bank plc on £50m cross-border commercial real estate Islamic facilities ‘in distress’.
  • Advised OakNorth Bank plc in connection with various acquisition and development facilities of approximately £40m for the Care Concern Group.

Collyer Bristow LLP

Collyer Bristow LLP primarily acts on the lender side on the acquisition and development financing of properties in London and the Home Counties, with a strong background in advising financial institutions from the Middle East and East Asia. Alex O’Connor, who advises on mixed-use developments, and Rory Macpherson, who focuses on residential developments, are highly recommended.

Practice head(s):

Michael Grace

Other key lawyers:

Alex O’Connor; Rory Macpherson

Key clients

Arab National Bank

Bangkok Bank PCL

Hampden & Co. PLC

Handelsbanken PLC

Weatherbys Private Bank Limited

Aldersgate Investments Limited

Bewley Homes plc

Chase New Homes Ltd

Crest Nicholson plc

Ipsus Developments Ltd

Lochailort Investments Ltd

Willmott Dixon Holdings Ltd / Be Living Ltd

Work highlights

  • Acting for Willmott Dixon on the funding, acquisition, development and sales of sites in Tower Hamlets, Reading, Sevenoaks and Cheshunt.
  • Acted for Chase New Homes Limited on the £30m forward sale of a development at Palace Wharf in Fulham.
  • Acting for an entity within the Ipsus Developments wider group on a joint venture with a pension fund in connection with the acquisition, funding and development of a site in Caversham.

Dechert LLP

Dechert LLP’s team has been strengthened with the arrival of Aparna Sehgal, who is an expert in cross-border development financings and represents clients such as Citibank and BAWAG P.S.K, from Sidley Austin LLP. Practice head Charles Malpass continues to advise major private equity houses on property portfolios, most recently assisting Apollo Global Management with West London developments.

Practice head(s):

Charles Malpass

Other key lawyers:

Aparna Sehgal

Work highlights

  • Advised funds managed by Apollo Global Management, Inc. on the successful £850m refinancing of the Whiteleys mixed-use development site in West London.
  • Advised funds managed by Apollo Global Management, Inc. on the £145m refinancing of the Porchester Court/Queensway development in West London undertaken by Meyer Bergman.

Farrer & Co

Farrer & Co handles investment, acquisition and development finance for clients ranging from major UK and international banks to high-net-worth individuals and estates. It has expertise in asset classes including hotel and leisure, retail, office and residential properties. At the helm is Martin Blake, who is highly skilled in cross-border financings, especially structures involving Islamic finance. Bethan Waters, whose clients include a number of charities, and secured lending transactions specialist Marc Glancy are also recommended.

Practice head(s):

Martin Blake

Other key lawyers:

Bethan Waters; Marc Glancy

Testimonials

‘Farrer & Co. have an intimate working knowledge of our business and its operations, allowing the firm to provide transactional support with full knowledge of our systems, processes and requirements.’

‘Marc Glancy and Bethan Waters provide sound commercial advice and are always mindful of timing, working hard to ensure that transactions are completed in line with expectations and on schedule.’

‘Farrer is a large enough firm that they can cover a great number of legal aspects and they have a simple approach to being able to connect with different partners via our main contact. Highly experienced individuals and teams that work well together.’

‘They are all highly experienced in their fields. We have a very good relationship which has been built up over a number of years. They provide the time and insight into any question, small or large.’

‘A well-organised practice with talented individuals. The team I work with are very knowledgeable and approachable with great attention to detail. The team are adaptable to change which, especially in the current environment, is a great skill to allow transactions to continue to run without interruption.’

‘The team are well regarded by myself and my colleagues. We trust them to offer sensible advice and provide practical solutions when required.’

‘They put the client’s interests first and are an asset to the firm they work for. I enjoy working with them.’

‘Excellent attention to detail. Marc Glancy is extremely approachable and exhibited first-class knowledge whilst being able to explain complicated matters in an understandable manner.’

Key clients

Royal Bank of Canada

C. Hoare & Co

Deutsche Bank

Secure Trust Bank PLC

Coutts & Co

Rothschild & Co Wealth Management UK Limited

Triodos Bank NV

Citibank NA

SG Kleinwort Hambros

Bank Julius Baer

Work highlights

  • Advising DB UK Bank on a £120m loan facility to a UK-based property development company.
  • Advising a major Canadian bank on the £150m refinancing of prime commercial property in London.
  • Acting for Secure Trust Bank in the provision of a £29.5m development loan facility to a leading developer of luxury residential-led mixed-use developments.

Freeths LLP

Freeths LLP is particularly active in advising debt funders in the healthcare sector, as well as advising on the financing of major mixed-use developments. Richard Williams focuses on the aforementioned areas with additional expertise in the hotel and leisure sectors. Chris Freeston, who works from the Nottingham and London offices, is notably strong in handling student accommodation and hotel developments.

Practice head(s):

Richard Williams

Other key lawyers:

Chris Freeston

Testimonials

‘Richard Williams is an extremely capable real estate finance partner. He has very good knowledge of all aspects of the specialism and is very client friendly. We retained him on a difficult matter and he was very impressive.’

Key clients

Daiwa Capital Markets Europe Limited

CBRE Indirect Investment Services Limited

The Bank of London & The Middle East (BLME)

LaSalle Investment Management

Santander UK plc

ICG-Longbow

Lloyds Banking Group

Clydesdale Bank

Patron Capital

HSBC

RBSi

Hamberley Developments

Amber Infrastructure

Work highlights

  • Acting for the City North Finsbury Park joint venture in relation to its debt funding arranged by LaSalle Investment Management in respect of the significant City North mixed-use development.
  • Acting for LaSalle Investment Management in relation to the debt funding arranged for Amro Real Estate Partners in relation to a student accommodation development project in Granada, Spain.
  • Acting for Daiwa Capital Markets Europe Limited on its refinancing of prominent developer Seven Capital secured against a prime mixed-use development site in Birmingham.

Gibson, Dunn & Crutcher

Gibson, Dunn & Crutcher's standout strength is in assisting US investors on European property developments, with a client base which includes major US opportunity funds such as Apollo and Colony Capital. Practice head Alan Samson has very broad expertise in real estate, allowing him to handle both the financing and commercial aspects of real estate investment, and is currently very active in handling the acquisition of major real estate loan portfolios.

Practice head(s):

Alan Samson

Testimonials

‘They are very transaction focused and proactive in letting the other side know what needs to done to make progress.’

‘Gibson Dunn & Crutcher’s real estate team is really focused on the key items in transactions and financings which are important from a buyer’s perspective. The team is very diligent, thoughtful and always focused on protecting the client’s interests. Their London practice can lead and coordinate complex and lengthy transactions and financings involving multiple parties and geographies.’

‘Alan Samson is a very experienced, diligent and detail-focused lawyer. He stands out in being able to lead both the acquisition and financing work stream across complex, pan-European deals. This not only makes the acquisition and financing process easier and more efficient but also allows Alan to be in the details on both work streams and give tailored and thoughtful advice. He is not only an excellent lawyer but also a trusted adviser.’

Key clients

AECOM Capital

Apollo Global Management

Ares Management Brookfield

Cale Street Partners

Centerbridge

Davidson Kempner Capital Management

Deutsche Bank AG

Fremont Realty Capital, LP

Investcorp Bank B.S.C.

Marriott International

Meadow Partners

M&G

Nuveen Real Estate

Oaktree Capital Management

Tishman Speyer

Welltower

Ark Capital Advisors (formerly WeWork Property InvestorsLLC)

Work highlights

  • Advised Ark Capital Advisors on the acquisition of Film House, Wardour Street, Soho, London, as well as on the related financing from Deutsche Bank, and the occupational lease to WeWork Companies.
  • Advised Realty Income Corporation, a US-listed real estate investment trust, on its acquisition of 12 superstores from a British Land and Sainsbury’s joint venture for £429m.
  • Advised Centerbridge on the acquisition of a portfolio of nine hotels located in Belgium and France from WNE Investor S.À R.L.

Greenberg Traurig, LLP

Greenberg Traurig, LLP is growing its presence in the London market and is very active in cross-border financings. Partha Pal is a key name whose recent work includes the financing and refinancing of properties in London and Germany, as well as acting for lenders based in North America. Gary Bellingham is also noted; he advises on a range of asset classes, including student accommodation, senior living properties and science parks.

Practice head(s):

Emma Menzies

Other key lawyers:

Partha Pal; Gary Bellingham

Testimonials

‘Personal attention from a partner is always very good and they are always very considered in their thoughts.’

‘Partha Pal is very responsive and has a great work ethic to find solutions to problems that may arise.’

‘They are approachable and will go out of their way to provide the requested advice and counsel.’

‘Partha Pal is honestly like no one I have ever worked with – he has a brilliantly logical and commercial mind, and his previous experience as a barrister really shines through from an analytical perspective. He is always personally available and although his team are extremely experienced and fantastic, it is nice to know you can always pick up the phone to him.’

Key clients

Nuveen

Europa Capital

Cain International

Competitive Socialising Limited

Oxford Technology Park Limited

HIG

Fabrix Capital

Peel Logistic Partnership

Angelo Gordon

Work highlights

  • Assisted Nuveen Real Estate with an approximately £280m refinancing of a portfolio of ten co-working offices in London.
  • Acted for Oxford Technology Park Limited, a development vehicle established by Hill Street Holdings.
  • Acted for Competitive Socialising Limited as the borrower of a credit facility from a UK bank to enable it to grow its business.

Trowers & Hamlins LLP

Social and affordable housing is a key area of focus for Trowers & Hamlins LLP, which has additional expertise in the hotel, healthcare and student accommodation sectors. Key members of the team include Eddie O’Hanrahan, who focuses on commercial and residential development finance; Katharine Lewis, who is notably strong in Islamic finance; and Imogen Fisher, whose specialty is in public sector development finance.

Practice head(s):

Adrian Carter

Testimonials

‘The firm offers a complete range of services, has strength in numbers and is able to respond seamlessly to urgent or changing deadlines. This means that all services can be provided under one umbrella.’

‘They stand out for the ability of staff to make you feel at ease, provide a professional approach, and give sound, realistic and appropriate advice and not say what you want to hear.’

‘Partners that make a real difference include Eddie O’Hanrahan on the finance side. I am impressed with the integration across the firm and their ability to work as a team. Delegation appears to be a strong point in the firm’s culture that helps facilitate the right match between the adviser and the client’s brief.’

‘An excellent understanding of the client’s business drivers and a deeply pragmatic approach to delivering solutions. Trowers are particularly good at providing solutions to legal obstacles rather than just focusing on the risks associated with a transaction or agreement.’

‘Their advice is consistent, relevant and provides us with added value on what is the best commercial practice.’

‘Imogen Fisher is the main lead on funding agreements and is very helpful and professional.’

Key clients

Apache Capital

Affordable Housing & Healthcare Group

Shawbrook Bank Limited

Kew Bridge Gate Developments LLP

Peabody Trust

Luton Street Development LLP

Swanton Care & Community Limited

SOYO Property Company Limited (investment vehicle for Apache Capital)

Work highlights

  • Advised a special purpose vehicle jointly owned by Eco World International Berhad and Be Living Holdings Limited on the terms of a £94m loan to finance the development of Brentford Football Club’s new 17,250-seat stadium.
  • Advised Shawbrook Bank on a secured loan facility to U.K. Healthcare Enterprise to fund the management buy-out of the six-care home group New Century Care.
  • Advised on a debt facility from LaSalle Investment Management to support the acquisition and development of the former Quarry Hill car park in Leeds, part of a £300m city centre development known as New York Square.

Blake Morgan LLP

Blake Morgan LLP advises a wide range of lenders on development finance, secured and portfolio lending, with a growing focus on Islamic finance. The team acts for clearing banks, investment banks, private banks and property funds. In terms of asset classes, hotels, care homes and residential developments are the key areas of interest. Tony Coyne, who is notably adept at managed and secured lending, leads the practice.

Practice head(s):

Tony Coyne

Testimonials

‘I find them positive and proactive in their approach, service and efficiency.’

‘The standout individual for me is Tony Coyne. He is excellent.’

‘The Blake Morgan property finance team combines individuals across the banking, property and construction teams to deliver a seamless and joined-up approach to property finance. The firm offers us a great service, whilst also providing value.’

‘A can-do attitude and friendly and commercial approach means that it is a pleasure to work with the team.’

Work highlights

  • Acting for HSBC on the restructure and refinance of a hotel business worth £38m.
  • Acting for HSBC on the provision of loan facilities worth £18m to a business running various discount retail chains.

Druces LLP

Islamic finance and syndicated finance are the two key pillars of Druces LLP’s practice. Christopher Axford leads the team and is highly experienced in sharia-compliant structures, as well as having a particular strength in the banking and healthcare sectors. Suzanne Middleton Lindsley is also an expert in Islamic finance and syndicated structures.

Practice head(s):

Christopher Axford

Other key lawyers:

Suzanne Middleton Lindsley

Testimonials

‘The practice has a broad range of legal expertise. Suzanne Middleton Lindsley is a superb lawyer, very approachable and very knowledgeable. A pleasure to work with.’

‘The firm kept us updated throughout the transaction, looked for solutions to problems and clearly explained any legal issues. We worked closely with Suzanne Middleton who was excellent. She was very pragmatic but clearly advised on the legal risks to help us make commercial decisions.’

‘The team are commercial, knowledgeable and approachable.’

Key clients

Bank of London and the Middle East Plc

Metro Bank Plc

Ratcliffes/Syndicates D&A

Alpha Bridging Solutions (now known as Kuflink)

Alpha Property Lending

Secure Trust Bank

Arbuthnot Latham

Bank Julius Baer, Guernsey

Denizbank AS, Turkey

ICICI Bank UK PLC

Bank of China (UK) Ltd

C.Hoare & Co

Work highlights

  • Advised Bank of London and the Middle East Plc on a sharia-compliant loan of £26m to an investor developer.

DWF

DWF advises traditional and alternative lenders on acquisition, development and investment finance, as well as refinancing and restructuring. Asset classes of particular interest include hospitals, hotels and data centres. Brendan Slack leads the team, which also includes Iain Shurwood and Simon Elphick.

Practice head(s):

Brendan Slack

Other key lawyers:

Iain Shurwood; Simon Elphick

Edwin Coe LLP

Edwin Coe LLP acts for a number of domestic and international commercial banks, as well as high-net-worth individuals and families. Practice head Stephen Brower has a particular focus on the hotels and hospitality sector. The team primarily advises on assets in Greater London and the surrounding counties, although dual-qualified Joanne McIvor often advises on properties in Scotland.

Practice head(s):

Stephen Brower

Other key lawyers:

Joanne McIvor

Testimonials

‘They have the full breadth of experience across the whole sector. They do not come across as a large corporate entity at all and it feels more like a family office type of environment where you are treated as an individual throughout.’

‘Stephen Brower is one of the most knowledgeable and approachable lawyers I know. He always has time for you and gets the balance between detailed paperwork and practicality right. He treats each case individually but is not afraid to negotiate strongly, where needed.’

Key clients

Waterman Group

Havin Bank Ltd

Maybank Berhad

Riyad Bank

Handlesbanken

Hennessy Jones

Hamlins LLP

Hamlins LLP acts for lenders and borrowers including traditional banks, opportunistic funds, private equity groups and family offices. Aselle Djumabaeva-Wood leads the practice; her notable highlights include advising Palace Capital on its £15m acquisition of One Derby Square in Liverpool. She also assists high-net-worth families with the management of their property portfolios.

Practice head(s):

Aselle Djumabaeva-Wood

Testimonials

‘Excellent, effective service overall. They are very approachable, which enabled a rapport to be immediately established with the team and all key parties. All the commercial elements of the matter were clearly understood and dealt with on a no-nonsense basis. I would not hesitate to use them on other transactions or recommend their services. ‘

‘Aselle Djumabaeva-Wood is a pleasure to deal with. Very practical in approach and detailed in nature. Positive and focused in co-ordinating negotiations between parties. Always available.’

‘They are very diligent and respond quickly to issues. They think commercially and do not just tick boxes.’

‘They have a strong grasp of the law, which enables them to make firm decisions and not just cover themselves.’

‘An impressive team. They provide exceptional service in a friendly manner, quickly and confidently.’

‘I highly recommend Aselle Djumabaeva-Wood. However difficult a task you give to her, she will deliver and will guide you throughout the process. Even if you throw at her things beyond her expertise, she will never say no. She will study it, become expert and still help you to the best of her abilities. Aselle is a rounded professional, constantly evolving to provide you with best service and advice.’

Key clients

Bangkok Bank PCL

Citrus Group

Palace Capital Plc

Pivot Lending Ltd

James Taylor Group

Work highlights

  • Advised Palace Capital Plc and its subsidiaries on the refinancing of a flagship mixed-use commercial building in Liverpool with Lloyds Bank, and various credit facilities from NatWest Bank to refinance a large commercial property portfolio.

Howard Kennedy LLP

Primarily advising on regional properties, Howard Kennedy LLP’s multi-disciplinary practice has expertise in investment and development finance, as well as senior and mezzanine lending, bridge finance and Islamic finance. Daniel Fireman leads the team, and stands out for his experience in advising new entrants to the market. Head of banking Steve Clinning has been very active in advising on industrial, hotel and residential developments. Nada Jarnaz is also recommended.

Practice head(s):

Daniel Fireman

Other key lawyers:

Steve Clinning; Nada Jarnaz

Testimonials

‘The team has good organisational skills and a proactive attitude. When an issue arises, I also find them to be attentive and very pragmatic. I base my judgement upon the availability, commerciality and strength of the team as a whole. This counts for small residential transactions right through to larger commercial deals.’

‘The Howard Kennedy property finance team delivers a responsive, cost-effective and commercially focused service to us. I understand clearly the client pressures that are placed on lawyers and law firms and Howard Kennedy are able to deal with those most effectively.’

‘The firm has provided us with commercially driven, clear and appropriate advice on a wide range of high-value, highly complex, multi-jurisdictional matters.’

‘I believe that the firm understands how clients want and need to get from the start to the end of transactions efficiently and smoothly, dealing with all issues in a calm, speedy and cost-effective manner.’

‘Nada Jarnaz is pragmatic, easy to deal with, extremely responsive and very practical. She is diligent, commercial and very user-friendly. Nada is simply a very good lawyer who is also extremely knowledgeable and does not get bogged down in minutiae.’

Key clients

Octopus Real Estate

Rothschild & Co

Octane Finance

Aldermore Bank

Avamore Capital

Shawbrook Bank

Lendinvest

Santander UK plc

Natwest/Coutts

TAB

Stellus Capital Investment Corporation

Property Box Loan Company

Galliard Group

Work highlights

  • Acted for the lender, Octopus Real Estate, on a £29m loan to Ascona Group towards the development of petrol stations.
  • Acting for Shawbrook Bank in connection with a development facility made available to redevelop and regenerate a site in Ramsgate formerly known as the Pleasurama.
  • Advised Edward Street Quarter Limited on the redevelopment of Amex House in Brighton.

K&L Gates LLP

K&L Gates LLP is active in structured real estate finance and CMBS deals. The firm's international network means it is well placed to handle cross-border mandates. Richard Hardwick, who advises on development finance, is the key name of note.

Practice head(s):

Richard Hardwick

Katten Muchin Rosenman UK LLP

Katten Muchin Rosenman UK LLP has a particularly strong track record in cross-border mandates, with extensive experience advising Asian and Middle Eastern banks and lenders. 'Responsive and pragmatic' practice co-head Kumar Tewari is notably strong in debt finance matters. Deputy managing partner Terry Green also co-heads the team and has a particular focus on hospitality and luxury retail properties.

Testimonials

‘Katten have a strong commercial awareness that means they deal equally effectively with bread and butter loans as well as the most complex transactions. They are proactive and responsive as well as pragmatic. They do all that is needed and frequently more to deliver the deal on time.’

‘Kumar Tewari is a partner who leads from the front. He is very responsive, always pragmatic and really strong on solving legal problems for commercial and real estate loans. His team are immensely well organised, hardworking and productive, with a high level of service and delivery.’

‘The team has strength in depth, with a lot of experienced people who are able to assist. Our main contact is Kumar Tewari who is always looking to assist our team wherever possible. He is keen to ensure that the service provided by his team is second to none and always strives to go the extra mile.’

Key clients

Morgan Stanley

TPG Specialty Lending

General Electric Capital Corporation

Shiva Hotels

Bank Leumi (UK)

KOP Properties

Circle Property Management

Titan Investors

Work highlights

  • Advising NBK Capital on the financing and formation of funds for joint ventures with Round Hill Capital and Revcap. The assets are properties in Germany, Spain, France, Ireland and the UK.

Maples Teesdale LLP

Specialist real estate firm Maples Teesdale LLP primarily acts on the lender side of investment and development finance, with a client roster that includes traditional banks and alternative lenders. The team advises on assets across the UK, including retail properties, offices, hotels and student accommodation. Chen Ikeogu and Rohan Campbell lead the practice.

Practice head(s):

Chen Ikeogu; Rohan Campbell

Testimonials

‘A professional team whose practice is solely focused on the real estate market in which we operate. It is a leading firm that is up to date with the current, fast-paced real estate environment. The team act quickly, are always available and provide commercial and legal due diligence to a very high standard.’

‘They always deliver on both astute legal advice and quick turnaround times. Their judgement in the sector is second to none. They are always on call and protect my position. They are very experienced, practical and excellent communicators.’

Maples Teesdale LLP are a commercially minded practice. They offer solutions-based advice and always take a balanced approach.’

‘Chen Ikeogu is a diligent and commercially minded partner. He is always available and offers sound advice.’

Key clients

Bank and Clients plc

Bretby Business Park Limited Partnership

Bywater Properties Limited

Deutsche Hypothekenbank

Greenergy International Limited

Investec Bank plc

L&UK Property Group Limited

Martin’s Properties

Maslow Capital LLP

OakNorth Bank plc

Patrizia AG

Tristan Capital Partners

United Trust Bank Limited

West Eleven Group

Work highlights

  • Advised Patrizia on the £45m disposal of Peter House, an 11-storey office and retail property spread across 95,000 sq feet in Manchester.
  • Advised Maslow Capital on a £24.4m refinance of TIBST Limited, a residential-led scheme comprising 183 residential units and associated commercial space across 167,000 sq feet in Manchester’s Northern Quarter.
  • Advised Maslow Capital in connection with a £13m loan to 86TR Limited to fund the development of a property in Talbot Road, Manchester.

Memery Crystal LLP

Acting for both international and domestic clients, Memery Crystal LLP has particular strength in handling mid-market deals for private investors, most notably in the hotel space. 'Knowledgeable and with an extensive range of expertise', the team advises on development and acquisition finance, as well as leveraged, syndicated and high-yield structurings. Matthew Lindsay leads the practice.

Practice head(s):

Matthew Lindsay

Testimonials

‘They are very knowledgeable, with an extensive range of expertise. They are able to turn around excellent work within short timeframes, which is invaluable. One can rely on their advice and, moreover, they are a pleasure to work with.’

Key clients

MBU Capital

Bowling Green Asset Management (BGAM)

Ashtrom Properties UK

A.S.K. Partners

CPI Property Group

Zorin Finance

OakNorth Bank

Ziz Properties

Zenprop

EFG Bank

Z Hotels

Work highlights

  • Advised MBU Capital in relation to the acquisition of Addison Lee’s former headquarters in Euston.
  • Advised Bowling Green Asset Management in relation to the acquisition of a substantial hotel in Milton Keynes, as well as the sale and leaseback of the Holiday Inn in Kenilworth.
  • Advised Ashtrom Properties on the £68m acquisition of the 360,000 sq ft, Grade II-listed Exchange Flags building in Liverpool from Shelborn Asset Management.

Ropes & Gray LLP

Private equity real estate transactions are the core area of expertise for Ropes & Gray LLP, which handles both domestic and European mandates. Practice head David Seymour is heavily focused on this area and also advises debt funds, endowments and sovereign wealth funds on their property portfolios.

Practice head(s):

David Seymour

Shoosmiths LLP

Shoosmiths LLP has been particularly active in the regional market, primarily advising on assets such as residential, student accommodation, hotel and leisure, healthcare and retail properties. Practice head Liz Sweeney, who is based in Manchester, is highly skilled in senior and mezzanine financings, while Birmingham-based Nicholas Iliff has a strong background in matters involving energy sector properties.

Practice head(s):

Liz Sweeney

Other key lawyers:

Nicholas Iliff

Testimonials

‘A very experienced team that provides very good quality of service.’

‘Liz Sweeney is very experienced and good to deal with.’

Key clients

Crown Street (Manchester) Limited (Renaker)

Aviv Holdings Limited

Octopus Investments

DCP London Limited

N is for Nursery Limited

Equitix

Work highlights

  • Acted for Crown Street (Manchester) Limited in relation to two facility agreements from Maslow Capital totalling £123m to fund the development of two high-rise residential towers on Crown Street, Manchester.
  • Acted for Allied London in relation to a facility from Dragonfly Finance SARL and Fern Trading Limited to refinance its existing facilities with Pramerica Real Estate Capital.
  • Acting on the borrower side of a £7.9m development facility for Aviv Holdings Limited from Avamore Capital Limited for the redevelopment of a site in Surrey.

Teacher Stern LLP

Advising both lenders and borrowers, Teacher Stern LLP stands out for its speciality in bridge financing, but is also highly active in acquisition and development finance. The team advises on hospitality, residential and mixed-used properties, with a strong background in handling cross-border mandates. Phil Berry leads the practice and is supported by corporate finance expert Claire Gibson.

Practice head(s):

Phil Berry

Other key lawyers:

Claire Gibson

Testimonials

‘The real estate finance team is a pleasure to deal with. They are professional, efficient, practical and always available to their clients.’

‘Phil Berry has years of experience, making him the type of lawyer you always want in your corner. Claire Gibson is pragmatic, commercial and a pleasure to deal with.’

Key clients

Brydg Capital Limited

OakNorth Bank plc

Avamore Capital Limited

Burger & Lobster (part of the Goodman Group)

Limecourt Ventures

Century Capital

Property Finance Nominees

Englander Group

Kenfin Holdings Limited

Westcity Property Group

Elyseum Finance S.C.A.

Work highlights

  • Advised Brydg Capital as lender on an £18m facility agreement which included security over a property forming part of the Grosvenor Estate.
  • Advised Silver Stone Capital Management on a $33.5m facility for the purpose of refinancing of existing debt relating to the purchase of the Waldorf Astoria Jerusalem.
  • Advised Emirates NBD Bank on lending to a company for the purposes of a refinance with security to be provided over a large portfolio of residential properties in Central London.

Boodle Hatfield LLP

Boodle Hatfield LLP primarily focuses on mid-market private capital, advising private banks and wealth managers on commercial, hotel and residential developments. Key figures from the team include practice head Adam Chamberlain, who advises on development finance, particularly in the hotel sector, and Rajeev Joshi, who joined from K&L Gates LLP and advises on residential developments.

Practice head(s):

Adam Chamberlain

Other key lawyers:

Rajeev Joshi

Testimonials

‘A smaller, partner-led team which I found to be very commercial, pragmatic and practical. They do very well with their property-heavy and landed estate caseload.’

‘Adam Chamberlain is outstanding. He has a very steady hand on the tiller and is utterly unflappable.’

‘Their broad experience across multiple sectors, added to their detailed knowledge and experience in real estate and property finance, makes them invaluable and unique.’

‘Adam Chamberlain has deep knowledge of his field, an accurate, broad view and experience in property and finance. He does not hesitate to spend the right time on the right matter until we have the right answers, and he has directed the process to the desired result.’

Key clients

A.S.K. Capital Partners LLP

Work highlights

  • Advised A.S.K. Partners on its £62m stretch senior debt funding with OakNorth for a 300,000 sq ft commercial and residential development of a former hospital site in King’s Cross, London.

Cadwalader, Wickersham & Taft LLP

A new practice in the London market, Cadwalader, Wickersham & Taft LLP  has picked up a number of investment and development finance mandates from UK and European banks and lenders. Duncan Hubbard, who joined from Norton Rose Fulbright, leads the practice and has been very active in advising funds on their pan-European property portfolios.

Practice head(s):

Duncan Hubbard

Testimonials

‘The real estate finance team is knowledgeable, pragmatic and efficient.’

‘Duncan Hubbard is very client focused. He provides the level of transaction partnership and leadership that clients need on large and complex transactions, but which can sometimes be hard to find.’

Key clients

Münchener Hypothekenbank eG

Invesco

AEW

Blom Bank

Civitas

Work highlights

  • Advised an Italian-regulated SICAF fund on its financing with German Pfandbrief bank Aareal Bank AG in respect of two properties located in Milan, Italy.
  • Advised Münchener Hypothekenbank eG on its loan facility to Azure Hotels in respect of its acquisition of a Holiday Inn hotel property and business in central Manchester.
  • Acted as the funds lead counsel on Invesco’s value-add European fund, advising on its capital call facility with Wells Fargo.

Cripps Pemberton Greenish

Cripps Pemberton Greenish acts for clients including traditional and alternative lenders, and advises mainly on development finance. The team is also skilled in handling structures involving offshore jurisdictions, sharia-compliant finance and bridge financing. The team acts for traditional banks such as Santander, as well as more niche lenders such as BRYDG Capital and Oaknorth Bank. Ajoy Bose-Mallick, who joined from Maples Teesdale LLP, leads the practice and predominantly advises on residential and student accommodation properties.

Practice head(s):

Ajoy Bose-Mallick

Key clients

BRYDG Capital

Niveda Group

London Wall

Liberty Property Trust

Clydesdale Bank PLC

Santander

Handelsbanken

OakNorth Bank

Zorin Finance Limited

Work highlights

  • Advising BRYDG Capital on investment and development finance transactions for residential, mixed-use and commercial real estate across the UK.
  • Advising Birchall Properties Limited as landowner and developer on the funding aspects of the Peak Resort scheme in Derbyshire.
  • Advising Close Brothers Property Finance on around 25 property finance matters as part of a panel with a total loan value of around £80m.

Glovers Solicitors LLP

Property boutique Glovers Solicitors LLP advises a range of mid-market lenders, mainly on the investment and development financing of residential and commercial properties. Practice head Darran Smith acts for traditional banks as well as investment firms, family offices and student housing companies. Liza Lam-Kee focuses on development finance, and Philip Mundy, stands out for his pan-European work.

Practice head(s):

Darran Smith

Other key lawyers:

Liza Lam-Kee; Philip Mundy

Testimonials

‘The team at Glovers are a joy to deal with. They are professional in their approach and offer guidance at every step of the transaction.’

‘Darran Smith is easy to deal with and explains everything, whether it is negotiating the most complex point or dealing with a simple security release.’

‘The client relationship and ability to cut through the jargon and take a commercial approach is what differentiates them from others. Although we deal primarily with Liza Lam-Kee, we know that there is a depth of knowledge within the firm.’

‘The team have developed a niche within the real estate and property finance space and their client list in that particular sector demonstrates that they are well regarded.’

‘Liza Lam-Kee is  both approachable and knowledgeable. She understands our needs and is able to focus on the things that really matter to us. Her ability to present multiple possible solutions to any given problem also provides added confidence.’

‘Glovers provides an excellent personal service, and the team give solid legal advice ensuring our interests are protected at all times, whilst maintaining a sensible level of commerciality.’

‘Darran Smith has always provided an excellent service and at times needed to deliver within challenging timescales. A small but effective team. Prompt responses.’

‘Darran Smith is very patient and prompt. He has good command over real estate finance matters and is a delight to work with. Great communication throughout each transaction. Swift execution and attention to detail.’

‘Philip Mundy always provides seamless advice. He has managed a large number of transactions for us and always delivers on time.’

‘Excellent commercial advice, quick response times, cost effective. They always go the extra mile to ensure good outcomes for their clients and are very thorough and diligent.’

‘A very capable and experienced team in all aspects of real estate, real estate financing and construction.’

Key clients

Butterfield Bank (Guernsey) Limited (formerly ABN Amro (Channel Islands) Limited)

Close Brothers Limited

Hampshire Trust Bank plc

Heritable Development Finance Limited

Investec Bank plc

Royal Bank of Canada Trustees Limited

Strata Residential Finance plc

United Trust Bank Limited

Lendinvest Limited

Shawbrook Bank Limited

Hilltop Credit Partners Limited

Investec Bank (Channel Islands) Limited

Work highlights

  • Advised LendInvest Development on the refinance of a £12m residential development.
  • Advised Heritable Development Finance Limited on the acquisition of a development site for 300 houses.
  • Acted for Close Brothers Group in relation to a development loan for a site for 58 assisted living dwellings.

PwC LLP

PwC LLP advises on acquisition and development finance relating to property portfolios, with the added advantage of having direct access to the firm's global consulting expertise. The team typically acts on the lender side, advising funds, family offices and specialist lenders. Annalie Croney, who was promoted to partner in July 2020, leads the practice.

Practice head(s):

Annalie Croney

Testimonials

‘A close-knit team that works together to solve problems and deliver for clients. They know their clients inside and out and are well led by Annalie Croney. They are commercial in their approach and don’t engage in intellectual point-scoring.’

‘They stand out for their knowledge and diligence, and seem to be available almost 24/7. We love working with Annalie Croney; she builds great relationships with both us and the opposing counsel to ensure deals progress.’

‘The team customise their advice to the exact needs of the client.’

‘The standout partner is Annalie Croney. All the individuals in the team are receptive to any issues that arise during a transaction and seek to work around the issues to the client’s satisfaction.’

Key clients

Lazari Investments Limited

Ampersand Homes Limited and Commercial Estates Projects Limited

Dooba Investments II Limited

ASE Finance II Sarl

Global Fixed Income Fund I Limited/Floreat Real Estate Limited

CEG Land Promotions Limited and CEG LP1 (UK) Limited

GRE Assets

Emerald Fund S.C.A SICAV-FIS Marshall Bridging Fund

CBRE Loan Services Limited as agent for Lazari Finance Limited

Kirkstall Forge Investment Property I Limited and Dooba Investments III

Real Estate (RA) Global Opportunity Fund I Limited/Floreat

Real Estate Limited

Lazari Financial Holdings Limited

Commercial Estates Group Limited

O&H Holdings Limited

ASE Finance III Sarl

ASE RE A LLP

Work highlights

  • Acted for Lazari Investments Limited on its new facility with Credit Suisse, which funded its acquisition of Savrow Holdings Sarl.
  • Acted for the borrowers in respect of the amendment and restatement of an existing facility with Proventus Capital Partners II AB, together with the simultaneous transfer by Proventus Capital Partners II AB to a new lender, being the related fund, Proventus Capital Partners III KB.
  • Advised Emerald Fund S.C.A SICAV-FIS – Marshall Bridging Fund on a number of real estate finance transactions.

Ronald Fletcher Baker LLP

Ronald Fletcher Baker LLP has a diverse client base, advising investors from offshore jurisdictions and acting for Middle Eastern clients on deals involving Islamic finance elements. The key contacts are bridge financing specialist Paul CainSarah Hung, who is particularly active in the retail and leisure sector; and Simon Lawrence, who has expertise in the hotel sector.

Other key lawyers:

Simon Lawrence

Testimonials

“In any business a can-do attitude is paramount. With this firm the service is first class, the communication is excellent, the approach is great, and clients appreciate the easy way of doing business.’

‘Paul Cain is an excellent solicitor.’

‘The team at Ronald Fletcher Baker LLP have a strong reputation in the industry for being able to deal with high-value, multi-property finance deals which often have an offshore element.’

‘Simon Lawrence is a master of his craft. Simon has the experience and expertise to get deals completed. His knowledge of the finance industry is second to none. It is no surprise to me that he had developed a reputation as a go-to man in the industry.’

‘Sarah Hung has a wealth of experience in commercial property.’

‘Paul Cain is excellent and has developed a reputation for acting on behalf of high-profile clients.’

‘The firm is very well known for the quality of its commercial property work and the service it offers its clients. It is able to offer a particularly strong team and a wraparound service for finance. They act for a number of banks and are on a number of panels. They are a good choice for serious portfolio refinances and very familiar with the process.’

‘Superb customer service, clear understanding of requirements, helpful and disciplined in their approach. Can think of out-of-the-box solutions and are focused on delivery.’

‘Very personable and relationship focused. Hardworking and understanding.’

Key clients

Al Sraiya Group Limited (Qatar)

Artover Ltd

Planwell Limited

Glasshouse Property Management

Cranfield Investments Limited

Keystone Holdings Limited (Isle of Man)

Ganco Limited

OneSavings Bank Plc t/a Kent Reliance

Work highlights

  • Instructed by an Isle of Man property development company in relation to the £30m refinance of a 29-property portfolio across central London.
  • Advising a bank on the £8.9m refinance of five existing mixed-use properties, each with multiple tenancies, and one commercial property with an existing tenancy.
  • Acting on the refinance of a £13m property in Baker Street on behalf of a company based in the Seychelles.

Rosling King LLP

Rosling King LLP acts for borrowers and lenders on the development finance and refinancing of residential, commercial, industrial and hotel properties, as well as loan workouts. The team’s client base includes traditional and private banks, debt funds and developers. Practice heads James Walton and Simon Geoghegan are active in refinancing, especially in structures involving offshore jurisdictions.

Practice head(s):

James Walton; Simon Geoghegan

Testimonials

‘They are readily available to assist and they are very practical and proactive in their approach. Their general demeanour is hugely beneficial in allowing matters to be resolved on a commercially viable basis. Great depth of knowledge and expertise which inevitably delivers a quality service for their clients.’

‘Always visible and easy to contact. Very efficient in returning calls and acting and delivering upon testing deadlines. Adopt a common-sense approach when possible, and show a breadth of view if the situation or scenario dictates.’

‘Everyone is treated well, and the fact that we regularly liaise with the senior/equity partners speaks volumes.’

‘They have always provided us with an excellent service throughout the years. All those involved in our notably complex cases kept us regularly updated and demonstrated a profound understanding and professionalism throughout.’

‘I cannot praise enough the five-star service received. The lawyers are very clever and hardworking. They are suitable aggressive when appropriate but more measured when that is in the commercial interests of the clients.’

‘Communication is what sets the Rosling King team apart from other law firms that I have used. They are incredibly responsive and always do a great job of keeping the client abreast of their progress. To me this is the most important attribute that a professional services firm can have.’

Key clients

Cynergy Bank

Ingenious Group

Iesis Group/Rengen Developments

J. Coffey Construction

Mizen Group of Companies

Sunley Homes

Arbuthnot Latham

Handelsbanken

Alpha Bank

Mount Street

Commercial Acceptances (division of Close Brothers)

EFG Private Bank

Clearwell Capital

Earlsfort Capital Partners

Tyburn Lane Private Equity

United Trust Bank

Antigo Developments

P3R Group Limited /GJM Property Limited

Tunstall Real Estate

Funding Circle

Work highlights

  • Acted for Rengen Developments on its acquisition of regeneration land in Bristol.
  • Advised Ingenious Real Estate Finance in connection with a circa £10m refinance bridge facility in relation to a build-to-rent 218-unit scheme.
  • Advised Arbuthnot Latham in connection with a £40m refinance of a portfolio of freehold and leasehold residential and commercial properties in central London.

Shakespeare Martineau LLP

Shakespeare Martineau LLP advises on property investment and development finance, and has a growing reputation for handling Islamic finance mandates, counting Al Rayan Bank as a key client on these matters. Mohammed Saqub, who divides his team between Birmingham and London, leads the practice and is an expert in sharia-compliant investment and development financing.

Practice head(s):

Mohammed Saqub

Testimonials

‘Extremely pragmatic with a strong, can-do attitude.’

‘Shakespeare Martineau have a powerful niche in representing Islamic finance lenders.’

‘Mohammed Saqub gives good, practical advice on complex matters, particularly on Islamic finance.’

Key clients

A.I.B. Group

Santander UK

Shawbrook Bank

The Charity Bank Limited

Al Rayan Bank Plc

Habib Bank AG Zurich

Handelsbanken

Leumi ABL

Punjab National Bank

Work highlights

  • Assisted a European bank with setting up an Islamic finance practice.
  • Advised an Islamic bank on its first ever real estate investment.
  • Advised Al Rayan Bank on financing the acquisition of a high-value residential development in central London.

Shepherd and Wedderburn

Shepherd and Wedderburn predominantly acts on the lender side of acquisition and investment financings, often involving retail, office and mixed-used properties. Jonathan Rickard, who has a particular focus on retail developments, leads the practice.

Thomson Snell & Passmore

A leading firm in the South East, Thomson Snell & Passmore has a strong presence in the London market, where it mainly acts for senior lenders and predominantly focuses on the acquisition and development finance of residential properties. Clients of the firm range from traditional lenders to niche players. Richard Ellard leads the practice.

Practice head(s):

Richard Ellard

Other key lawyers:

Matthew Grogan

Testimonials

‘The property team work closely together to provide a high degree of client service. If one person is away then another team member has already been brought up to speed to ensure service levels don’t drop. The team are proactive, ensure we are kept up to speed throughout the transactions and are a pleasure to work with.’

‘I am yet to work alongside another real estate legal team that has same combination of commercial understanding, expertise, experience and service level as TSP. They have a great structure, with work seemingly distributed evenly across associates, meaning that service levels have never dipped. Lawyers are in effect an extension of us as a client, and they are polite, well mannered and efficient.’

‘Matt Grogan is my main point of contact at TSP and he is a really great lawyer alongside having a great talent for business development. He is always available, alongside his associates, and is happy to walk me through any questions I have and explanations I require, so that I fully understand the issues.’

‘Matthew Grogan is very pragmatic in his approach and is willing to give definitive and concise advice. He has a good team around him and plenty of support.’

‘Matt and his team highlight the issues and very clearly state what is the best course of action to remedy them. Similarly, if we raise an issue, the advice we receive is often definitive, which is not always the case with other firms.’

‘The team are efficient and easy to communicate with.’

Key clients

Close Brothers Limited

Paragon Development Finance Limited

Commercial Acceptances Limited

Aldermore Bank plc

The Charity Bank Limited

Keystone Property Finance Limited

LendInvest Security Trustees Limited

Handelsbanken plc

Acorn Developments (SW) Limited

Lloyds Bank plc

Work highlights

  • Advised Close Brothers Limited on a revolving credit facility to fund, in phases, the development of a large residential site.
  • Advised Paragon Development Finance Limited on a loan to develop a hotel in London.
  • Advised Commercial Acceptances Limited on financing the development of a mixed-use property.

Watson Farley & Williams LLP

Watson Farley & Williams LLP is notably strong in acquisition and development finance for asset classes such as hotels, mixed-use properties, student accommodation and care homes. The 'helpful, constructive and commercialRanjeev Kumar leads the practice and acts on the lender and borrower side of major mandates, which often involve a cross-border element.

Practice head(s):

Ranjeev Kumar

Testimonials

‘Very approachable and knowledgeable, and the property finance team sits within a wider real estate team which can be helpful. Ranjeev Kumar is clearly an expert in the field.’

‘Ranjeev Kumar is very helpful, constructive and commercial and takes a real interest in his clients.’

‘Efficient, cost conscious and good to deal with. Ranjeev Kumar is personable, very technical and keen to get the job done.’

‘Excellent in real estate financing for both commercial properties and residential properties, very involved, transparent billing.’

Key clients

Downing Capital LLP

Welkin & Meraki

JS Bank Limited

In5 Capital

Bondcare Group

Fed Mac Limited

OakNorth Bank Plc

CFM Indosuez Wealth

Work highlights

  • Advised Bondcare Care Homes on its acquisition of the care home business and group HQ of Darrington Healthcare Limited.
  • Advising Make Shift on the financing of its acquisition and development of Clarnico Quay at Queen Elizabeth Olympic Park.
  • Acting for Appleby Leisure, a subsidiary of Xenia Leisure Group Limited, on the development finance aspects of a new 126-key Hampton by Hilton-branded hotel at Norwich International Airport.

Wedlake Bell LLP

Primarily acting for lenders, Wedlake Bell LLP’s skill set in this space covers acquisition, investment and development finance. Hilary Platt leads the practice and is very experienced in acquisition and development finance, particularly matters involving a cross-border element.

Womble Bond Dickinson (UK) LLP

Womble Bond Dickinson (UK) LLP’s client list includes major UK clearing banks alongside niche lenders. The team has been active advising on asset classes such as residential, retail and office properties. Regional properties are another area of interest, with the firm drawing upon its network of offices across the UK. Charlie Reid leads the practice.

Practice head(s):

Charlie Reid

Other key lawyers:

Nicola Giddens

Testimonials

‘A very good firm. The team I have worked with are knowledgeable and were keen to ensure the deal was completed in the desired timeframe. I would have no hesitation in using them again.’

‘They have a professional and commercial approach, ensuring transactions are completed in a timely and efficient manner.’

‘Nicola Giddens has very good experience. I have worked with Nicola for many years – one of the main reasons we went with WBD for a major deal last year was because Nicola had moved there.’

‘Charlie Reid is very experienced and knowledgeable.

‘Charlie Reid and Nicola Giddens both have a focus on making sure a transaction runs smoothly – they have a can-do attitude.’

‘Nicola Giddens’ commercial approach and availability to provide support is always greatly appreciated.’

Key clients

Lloyds Bank

HSBC Bank

Svenska Handelsbanken AB

Santander UK Plc

Akelius Residential Limited

Royal Bank of Scotland plc/National Westminster Bank plc

Union Bancaire Privee, UBP SA

Funding Circle

Castle Trust

Propfin

Moorfield (MREF IV Fund)

AG Quidnet

ICICI Bank UK plc

Investec

Work highlights

  • Acting for Lloyds Bank in relation to a £27m investment loan facility to a private property investor registered in England and Wales.
  • Advised Moorfield Group on behalf of the MREF IV Fund in relation to the £17m facility made available by Coutts & Co to finance the purchase of commercial real estate assets in Cheshire, Felixstowe and Milton Keynes.
  • Advising Castle Trust on a development facility to fund a 76-apartment framed construction with underground parking in Plymouth.