Real Estate Finance
Specialist international real estate finance team advising borrowers, lenders and servicers across all types of domestic and international real estate financings.
Complex financing models have become a major area of growth and innovation in the global real estate market. Led by lawyers with market leading real estate finance experience, our team of specialists help lenders, borrowers, and servicers meet their business goals through our pioneering financing structures.
Our dedicated real estate finance team has a reputation for leading developments in the market and structuring the most complex deals. We handle all types of secured, investment and development loans (including loan origination, syndications, loan on loan transactions, bridge and mezzanine loans and CMBS/RMBS), sale and leaseback structures, securitization and loan portfolio acquisitions. We advise on the formation and structuring of asset-specific and pooled real estate funds and vehicles, limited partnerships, structured legal entities, and joint ventures of all kinds.
Achieving a successful outcome for our clients is our primary objective and we can help you on all aspects of debt and equity involvement in real estate-related transactions in domestic and international markets.
Our full service offering includes:
- Loan Origination
- Syndication and secondary market transactions
- Non-Performing Loans
- Loan on Loan Finance
- High Yield
- Restructuring and Insolvency
- Joint Ventures
AWARDS & RECOGNITION
European Data Center deal of the Year - White & Case advised the Lenders on €620 Million Financing of Data4 Data Center Business
PFI Awards 2021
Tier One: Real Estate and Construction The Legal 500 EMEA, 2021
Band One: Asia-Pacific Banking & Finance, China Banking & Finance, China Banking & Finance: Leveraged & Acquisition Finance: Chambers Asia-Pacific, 202
Band One: Banking & Finance Chambers Latin America, 2022
Band One: Banking & Finance – Czech Republic, France, Saudi Arabia Chambers Global, 2021
#1 Banking & Finance Best Law Firms 2022, The Times
Oaktree Capital Management on Development Financing of Premium Co-Living Scheme, 2022
Advised Oaktree Capital Management, L.P. and its joint venture partner Outpost Management on the development financing of the construction of College Road Tower, a 49-storey premium residential tower block in Croydon, UK. College Road Tower is being built using modular design principles with carefully designed communal spaces to provide social and co-working spaces in addition to residential units.
Starwood Capital Group on Statuto Group's €330 million financing for renovation of historic Danieli Hotel, 2022
Advised US investment fund Starwood Capital Group on the €330 million financing for the renovation of the Hotel Danieli in Venice, an historic and iconic luxury asset in Statuto Group's real estate portfolio.The transaction, implemented through the issuance of certain non-convertible bonds listed on the 'Third Market' of the Vienna Stock Exchange, was organized by the US investment fund King Street Capital Management L.P. with the participation of Starwood Capital Group.
Crosstree Real Estate Partners on £772 Million Financing of One Nine Elms Development in London, 2022
Advised Crosstree Real Estate Partners, as part of a consortium of mezzanine lenders, on a mezzanine tranche of part of the £772 million whole loan financing of the One Nine Elms project in London. Crosstree Real Estate Partners is a private real estate investment firm with a focus on the UK property market. The £1 billion One Nine Elms development project comprises two buildings: the 57-storey City Tower, which includes 334 for-sale residential units; and the 42-storey River tower which includes a 203-room Park Hyatt hotel and 103 Park Hyatt-branded luxury apartments. The development also includes 57 affordable housing units that were forward-sold to Thames Valley Housing.
Lenders on €620 Million Financing of Data4 Data Center Business, 2021
Advised Deutsche Bank, Société Générale and SMBC as mandated lead arrangers and original lenders on the €620 million financing of the Data4 data center business. Our White & Case London, Paris, Milan, Madrid plus our Luxembourg Desk combined to close what is one of the largest data center financings in Europe. The Data4 group includes 19 data centers with a further six under construction in France, Italy, Luxembourg and Spain.
CTP on Largest Real Estate IPO in Europe, 2021 Since 2014
Advised CTP B.V. (CTP) on its initial public offering (IPO) and listing of its shares on Euronext Amsterdam – the largest real estate IPO in Europe since 2014. CTP's IPO raised €854.2 million in gross proceeds, which will help accelerate its growth strategy by, among other measures, financing its development projects and construction activities, selective property acquisitions and debt repayment. CTP Group is the largest full-service owner-developer of prime industrial and logistics property in the Central & Eastern Europe region. At December 31, 2020 the group had a property portfolio of 6.342 million square metres of gross lettable area, with an occupancy rate of 94 percent, gross asset value of €5.9 billion for its entire property portfolio and of €5.1 billion for its income-producing assets.
Lenders on Financing of DigiPlex Data Center Business Acquisition by IPI Partners, 2021
Advised Deutsche Bank's Credit Solutions & Direct Lending business as mandated lead arranger and original lender on the financing of the acquisition of the DigiPlex data center business by affiliates of IPI Partners, LLC. IPI Partners selected Deutsche Bank's Credit Solutions & Direct Lending business as financier in a deal that will support DigiPlex's continued growth. The DigiPlex group includes eight data centers across Norway, Sweden and Denmark.
Aggregate on €1 billion financing of 'Fürst' Real Estate Complex in Berlin, 2021
Advised Aggregate Holdings S.A. on the €1 billion financing of the acquisition via a share deal of the 'Fürst' real estate complex in Berlin. The project is located on Kurfürstendamm, one of Berlin's busiest and most prominent streets, and benefits from a prime location as well as a unique mixed-use neighborhood. It has a gross floor area of approximately 183,000 square meters, approximately 60 percent of which is office space, while the remaining space is intended for leisure, retail and a hotel. The redevelopment and repositioning project has a targeted gross development value of up to €2.5 billion upon completion and expected total rental income of up to approximately €50 million per year. The total financing of over €1 billion comprises senior and subordinated promissory note loans and bonds.
Vertex and Grupo MRP on the Acquisition Financing for the St. Regis Punta Mita Hotel, 2021 St. Regis
Advised Vertex Real Estate and Grupo MRP, a 50:50 joint venture, as borrower in the long-term financing extended by BBVA México for the acquisition from Promotora Hotelera Punta Mita, S. de R.L. de C.V., of the hotel known as the St. Regis resort, and the related assets of the hotel business. The Firm also represented the joint venture, as borrower, under a VAT facility to finance VAT applicable to the acquisition of the related assets of the hotel business. Marriott will continue to operate the hotel.
Centerbridge Partners and Elliott Advisors on Acquisition of €900 Million NPL Portfolio from National Bank of Greece, 2021
Advised Centerbridge Partners, L.P. and Elliott Advisors UK Limited on the acquisition of a €900 million portfolio of secured non-performing small business lending and SME loans secured by Greek real estate from the National Bank of Greece (NBG). NBG completed the disposal of the portfolio to Symbol Investment NPLCO DAC, a company jointly owned by funds managed by Centerbridge Partners and Elliott Advisors. The consideration of the transaction is equivalent to approximately 28 percent of the principal amount of the portfolio and is capital accretive to NBG. We advised on all aspects of this highly complex transaction, including the joint-venture and acquisition structuring, the asset servicing arrangements with Cepal Hellas, and the limited recourse senior financing together with specialist advice on European risk retention and securitisation regulations.