White & Case Advises J.P. Morgan Securities on Propertize Acquisition
Global law firm White & Case LLP has advised J.P. Morgan Securities plc on the acquisition by global private equity firm Lone Star of Dutch nationalised and state-owned real estate bank Propertize from the State of the Netherlands.
"This landmark transaction demonstrates our real estate finance capabilities and focus, particularly in the very active European non-performing loans space," said London-based White & Case partner Jeffrey Rubinoff, who led the Firm's deal team. "We advised J.P. Morgan on a market leading deal, working closely with local counsel and Lone Star's advisors to achieve a successful outcome for all parties."
White & Case advised J.P. Morgan as provider of debt finance to Lone Star for its acquisition of Propertize. Lone Star has paid €895.3 million for the shares in Propertize, and is also repaying all the outstanding debt of Propertize that is backed by a state guarantee for an additional €2.35 billion. White & Case also advised J.P. Morgan on the direct acquisition of certain loan assets from Propertize.
The White & Case team in London which advised on the transaction was led by partner Jeffrey Rubinoff with support from associates Lisa Seifman and Hannah Beale.
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