David is a partner in the private equity real estate practice and heads the team in London. He advises investors on UK and European PERE deals, leading a broad range of transactions across the risk spectrum for real estate funds, sovereign wealth funds, pension funds, family offices and operating partners. David advises on structuring and executing joint ventures, direct and indirect acquisitions and financings, disposals, real estate M&A, minority and majority equity investments and co-investments, distressed transactions and restructurings, sale and leasebacks, development projects and development financings.
David has extensive experience across all types of real estate assets and businesses with a deep understanding of real estate as an asset class including offices, hotels, retail and leisure, data centres, health care and care homes, residential (PRS/BTR and build to sell), 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 St. James Centre in Edinburgh, one of the UK’s largest private regeneration projects
- a €400 million joint venture with Hines Ireland to develop four greenfield sites at Cherrywood, Dublin for PRS and associated retail and leisure purposes and on a wider €700 million PRS joint venture in the Dublin area
- A Family Office on the €500 million acquisition, development and financing of one of the World’s largest data centres and its associated letting to a major international tech company
- A US Opportunity 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
- Bain Capital Real Estate in evaluating, negotiating and structuring real estate investments directly as well as through joint ventures, funds, co-investments and management arrangements with international and domestic sponsors, operators and managers
- 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
- Saïd Holdings on its real estate investments and financings, including on the acquisition and subsequent sale of 5 Churchill Place, Canary Wharf, London, to a Chinese investor for £270 million and the acquisition of Aldermary House in the City of London for £48 million
- A South African Investor on a series of central London office acquisitions and financings totalling c.£250 million including the acquisition and financing of One Bartholomew Lane in the City of London
- A PERE Fund on its tenant credit sale and leaseback of four prominent London based private hospitals to a healthcare investor for £227 million
- A PERE Fund on the structured acquisition, financing and subsequent sale of 123 Buckingham Palace Road, London for c.£243 million
- Barchester Healthcare 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
- A variety of Private Equity Funds including Bain Capital and TPG in connection with the real estate aspects of PE acquisitions and dispositions, including structuring and negotiation of occupancy leases, acquisition and disposition agreements and sale and leasebacks
- Author, “LOOK AHEAD 2018: Political outcomes will lead to greater clarity for real estate,” PERE (December 28, 2017)
DisclaimerRopes & Gray International LLP is a limited liability partnership registered in Delaware, United States of America and is a recognised body regulated by the Solicitors Regulation Authority (with registered number 521000).
- LPC, Nottingham Law School, 2004
- LLB, First Class (Hons.), University of Manchester, 2003