Ajay Kidambi joined Ropes & Gray in July 2015 as an associate in Ropes & Gray’s real estate group in London.
He advises on transactions with a real estate asset focus, both distressed and non-distressed, including single asset and portfolio acquisitions and disposals, property financings and developments.
He has advised a variety of clients including real estate investment trusts, domestic and overseas investors, landlords, tenants and developers involving a range of properties including retail and shopping centres, office premises and warehouse and distribution centres.
Notable transactions in which Ajay has been involved include advising:
- U.S. Opportunistic Investment Fund, on 95:5 co-investment with a multi-family U.S. operator in relation to the acquisition, development and management of a 6.5 acre regeneration site in South East England.
- TH Real Estate Limited on the origination and syndication of a mezzanine financing secured on a portfolio of private residential rented assets in London, as well as in providing finance for a portfolio of commercial properties in London. Also advising THRE Real Estate Limited in relation to an acquisition financing transaction in respect of Exchequer Court, London;
- Siguler Guff on its opportunistic real estate co-investment including a 95:5 joint venture with Vengrove Limited in relation to the acquisition of industrial properties in Salford, Manchester including associated redevelopment and construction works.
- A South African investor on the acquisitions and related financings of grade A office buildings in central London;
- Avenue Capital on its controlling investment and debt commitment into Hawthorn Leisure, a new company set up to acquire two portfolios of tenanted and leased public houses located throughout the UK;
- TSG Consumer Partners on its acquisition of a minority stake in BrewDog, a Scottish craft beer
Notable transactions in which Ajay has been involved during his assignment in Ropes & Gray’s Boston office include:
- Representation of Regis Corporation, a leader in the haircare industry, in the sale of all its mall-based salon business in North America, and in its agreement to sell all of its international segment to The Beautiful Group, an affiliate of Regent, who will operate the entities as the company’s largest franchisee.
- Representation of Blackstone Mortgage Trust in relation to a the $1 billion issuance of a Collateralized Loan Obligation, the largest commercial real estate CLO of its kind since the financial crisis.
- Represented Genstar Capital in its acquisition of Tekni-Plex, Inc., a global company focused on developing highly engineered products, including medical tubing and compounds, pharma barrier films, dispensing components, closure liners and specialty food packaging.
Notable transactions in which Ajay has been involved prior to joining the firm include:
- Acting for a leading global technology manufacturing company and the sale of its business and property portfolio by way of asset and share sale, at an aggregate value of £200 million
- Acting for a leading global investment bank on the financing of the acquisition of a hotel group running 19 properties in England and two in Scotland
- Acting for a US fund on its acquisition of a prime development in Mayfair (comprising mixed office and retail use)
- Acting for a leading global investment bank on the sale of its ports trading company and including its real estate assets across the UK
- Various landlords in relation to landlord and tenant matters