David Seymour is a partner in Ropes & Gray’s real estate investments & transactions group in London. He advises investors and lenders on domestic and international real estate equity, debt and asset level transactions.
He leads a broad range of transactions across the risk spectrum for real estate private equity and debt funds, endowments, sovereign wealth funds, operating partners and family offices. These include joint ventures, co-investments, direct and indirect acquisitions/disposals, sale and leasebacks, development projects, leasing, outsourcing and real estate financing.
David has extensive experience across all types of real estate assets and businesses including offices, hotels, retail and leisure, healthcare and senior living, residential, student accommodation, logistics and industrial assets.
Recent Experience Includes Advising:
- Dutch pension fund APG on its acquisition of a 75 per cent. interest in a joint venture with TH Real Estate, with a combined equity commitment of c.£800 million, to develop the £1 billion 1.7 million sq.ft. St James Centre in Edinburgh, one of the UK’s largest private regeneration projects. Edinburgh St James will comprise 850,000 sq. ft. of retail space, anchored by John Lewis, a 30-screen cinema, a world class W Hotel comprising 214 rooms, up to 250 private apartments, 20 restaurants and 1,600 car parking spaces
- A sovereign wealth fund on its 50:50 joint venture with Brookfield in relation to the acquisition of Berlin’s Potsdamer Platz, reported to be Germany’s largest real estate transaction for eight years
- International investment company Saïd Holdings on its real estate investments and financings, including on the acquisition of 5 Churchill Place, Canary Wharf, London, comprising 320,000 sq. ft. of office accommodation, the majority of which is let to J.P. Morgan and on its subsequent sale to a Chinese investor for £270 million
- A portfolio company of a US Private Equity firm on its tenant credit sale and leaseback of four prominent London based private hospitals to a healthcare investor for £227 million
- A joint venture between two US investors on the structured acquisition, financing and subsequent sale of 123 Buckingham Palace Road, London for circa £243 million
- A US private equity real estate investment firm on its opportunistic UK and European real estate investments with various operating partners
- A Special Situations Fund on its £50 million equity investment into a joint venture with a listed developer to acquire and reposition a landmark building in London near the Houses of Parliament structured through a Jersey Property Unit Trust and a separate corporate management vehicle
- The Barchester Healthcare group of companies on:
- the sale and leaseback of a £1.46 billion portfolio of 160 care homes in the UK and the associated refinancing of the group's borrowings
- the refinancing of a separate portfolio of care homes with Goldman Sachs and an associated lease regear
- A global hedge fund with over $27 billion of assets under management on its UK and European real estate acquisitions and investments including domestic and cross-border joint ventures
- A PERE fund on the sale of Executive Offices Group, a high end London serviced office provider with a portfolio of owned City and West End properties for circa £260 million to Queensgate Investments
- Uro Property Holdings SOCIMI, S.A. in connection with a €1.345 billion tenant credit-linked secured loan securitisation of its rental cashflows related to leases of Spanish bank branches leased to Santander
- Author, “LOOK AHEAD 2018: Political outcomes will lead to greater clarity for real estate,” PERE (December 28, 2017)