Aparna Sehgal > Dechert LLP > London, England > Lawyer Profile

Dechert LLP
Aparna Sehgal photo

Work Department

Commercial Real Estate Finance




Aparna Sehgal focuses her practice on real estate finance in the UK and continental Europe, and advises on complex real-estate backed transactions, often multi-jurisdictional, highly structured and involving complicated intercreditor issues (senior, mezzanine and subordinated debt/quasi-equity interests). Ms. Sehgal’s clients participate across the capital stack and include financial institutions, alternative capital providers and corporates.

Ms. Sehgal acts on a range of financing matters in connection with real estate, including: loan originations involving complex cross-border structures (including opco-propco arrangements), in connection with the acquisition and/or development of commercial real estate (CRE) or for the acquisition and work-out of distressed and/or non-performing loans (NPLs); the refinancing or restructuring of indebtedness secured on CRE and distressed debt / NPLs secured on real estate; loan-on-loan financings (involving performing and distressed / non-performing underlying assets); and on enforcement strategies (e.g., loan-to-own, consensual / quasi-consensual processes). Ms. Sehgal has advised on transactions in the UK, continental Europe, the Nordics, Russia, South East and East Asia, and the United States.

Ms. Sehgal also advises clients on a range of more general financing matters, such as margin loan and letter of credit (LC) facilities.

Prior to joining Dechert, Ms. Sehgal was a partner in the London office at another global law firm. Over the course of her career, she has undertaken secondments in Washington D.C. and Bangkok with the International Finance Corporation, and in London with CDC Group, Moscow Narodny Bank, and Barclays Capital. She also spent several months working with ANZ Banking Group in London on the disposal of part of their project finance business in Europe, the Middle East and North America to Standard Chartered Bank.


  • University of Leeds, LL.B. (Hons)
  • University of Cambridge, LL.M.

Lawyer Rankings

London > Finance > Securitisation

Dechert LLP has a large global securitisation practice in which the London office is a key hub. It frequently handles first-of-kind transactions involving new structures, multiple asset classes or jurisdictions, whether for issuers, or underwriters. It also has strengths in key market niches, including repo-based commercial mortgage securitisation. It is also strong in the broader CMBS market and is a key adviser to CLO managers. The London group, led by head of structured finance and real estate Aparna Sehgal, also works closely with its colleagues in the US to advise on securities regulation, and handles a strong flow of restructuring work. Key partner John McGrath frequently handles CMBS transactions and he advised a major investment bank on the development of repo-based transactions. Richard Pugh, who joined from Bank of America, has extensive experience in EMEA securitisation, CMBS and commercial real estate finance matters. The firm’s CLO practice is led by senior associate Glenn Weston, who works closely with associate Rory O’Connor.

London > Real estate > Property finance

The London team at Dechert LLP works closely with the firm’s European offices to support lenders and clients in the financial market on cross-border real estate finance transactions. Aparna Sehgal leads the European structured finance and real estate group and has expertise in complex, multi-jurisdictional transactions. She is praised as ‘a very experienced lawyer, especially on complex asset-backed financings’ and John McGrath is strong in structured finance matters. Richard Pugh joined from the Bank of America in April 2022 with strength in advising on commercial mortgage-backed securitisations, and the team has also grown at the associate level. Sarah Smith joined Baker McKenzie in February 2022.