Dima Orendarets

Representative experience includes advising:

Real estate finance

• Yondr on the €775 million acquisition, development and financing of one of the world’s largest data centers and its associated letting to a major international tech company.
• Davidson Kempner in connection with attracting a number of loan facilities totaling c.€617 million from a club of Portuguese banks to finance a €850 million acquisition of a portfolio of residential and hospitality assets in Portugal. The deal was one of the largest deals in the market in 2022.*
• King Street on an ongoing basis in connection with its investment in a central London office asset and the recapitalization of the asset through a significant restructuring of the capital stack including the introduction of a mezzanine financing.
• a club of major US debt fund managers on extending up to €344 million mezzanine loan facilities to a borrower affiliated with one of the largest real estate investors in the world. The facility was used to refinance the acquisition by the borrowing group of a portfolio of hotels in Spain and finance extensive capex works for the portfolio.*
• a club comprising Deutsche Pfandbriefbank, a UK investment manager, a UK debt fund, and a US investment bank on a £465 million refinancing of two luxury 5-star hotels in London, namely, The Connaught Hotel and The Berkeley Hotel. The initial signing and closing of this transaction occurred during the first few weeks of the first UK lockdown, making it one of the first deals in the market that catered for the growing impact of the COVID pandemic on the hotel sector.*
• Morgan Stanley Real Estate Investment on attracting a £154 million debt financing from BNP Paribas, London Branch for the acquisition of a property portfolio comprising seven logistic properties located in prime logistics areas of Southeast and East Midlands in the UK by way of asset and share acquisitions.*
• a major US investment bank in relation to providing an up to €151 million credit facility to entities sponsored by an equity arm of another major US investment bank to finance the acquisition and development of three logistic assets across Spain.*
• a private equity firm in respect of arranging an up to £70 million senior / mezzanine financing for Z Hotels to refinance three hotel properties across London.*
• a global real estate investment management firm on financing the acquisition by AtlasEdge of a colocation data center in Austria and land plots for data center development in Belgium and Germany in the total amount of up to €70 million.*
• a global data center operator on an up to €100 million refinancing of their Amsterdam data center with ABN Amro following the completion of the development phase*.
• Hillwood Investment Properties in connection with an up to €102 million facility to finance the acquisition and development of nine logistics properties across Germany.*

CRE back leverage

• a leading global RE debt fund on establishing two parallel New York law repurchase facilities in an aggregate amount of up to c. £800m to support expansion of its debt investments across Europe and the initial deployment of these facilities to fund three asset-level loans secured against a range of underlying CRE asset classes in multiple European jurisdictions.
• a leading global debt fund manager and a major sovereign wealth fund (acting together) on establishing an up to €500m facility to provide back-leverage for their CRE lending activities in Europe, and utilising the facility to fund a significant loan secured over logistics assets in in the Nordics.
• a leading global alternative asset manager on establishing three new repurchase facilities with two leading global banks in an aggregate amount of up to c. 1bn to support their new fund’s CRE lending strategy in Europe and on the deployment of these facilities to fund 4 significant asset-level loans secured against a range of underlying CRE asset classes in multiple European jurisdictions.
• a leading global alternative asset manager on establishing a back-leverage facility to extend their funding access to new currencies (GBP and Euro) and on the deployment of the facility to fund 3 significant asset-level loans secured against CRE assets in Germany, Italy and the UK, in an amount of up to c. €580m in aggregate.
• a global alternative investment firm on setting up and the subsequent upsize of its inaugural New York law repurchase facility in an amount of up to c. €480m to provide back-leverage for its expanding CRE lending across Europe, with a particular focus on the Nordics and central Europe and the initial utilization of the facility to fund a Norwegian bond financing and a residential property portfolio loan in Germany.
• a global investment manager on expanding their existing back-leverage capabilities to include a range of European currencies and the funding of an up to c. £70m loan secured against student accommodation assets in the UK.
• real estate investment trust in relation to multi-currency repurchase transactions and securitizations of a multi-billion dynamic portfolio of reals estate loans with mortgaged properties situated in Europe, the UK, the US, and Australia.
• a leading real estate fund manager on securing an up to £400 million in loan-on-loan financing from Wells Fargo to provide additional back leverage for their commercial real estate lending in the UK.
• a global alternative investment firm in connection with entering into an inaugural €132 million repo facility with Barclays to provide back leverage for their fast-growing CRE lending across Europe, particularly in the Nordics.
• a leading real estate fund manager in connection with an up to €189 million repo facility from Deutsche Bank to refinance a portion of their existing repo facility and provide additional back leverage for financing certain undrawn CRE loans in the Benelux.
• one of the largest sovereign wealth funds and Tristan Capital Partners as their asset manager in connection with attracting an up to €250 million senior loan-on-loan facility from a major UK bank for the purposes of funding the origination and acquisition of CRE loans across Europe. It was an inaugural transaction for the parties.*
• CBRE Investment Management, as asset manager for one of the largest sovereign wealth funds, on a £570 million securitization of a commercial real estate portfolio, which involved the drafting and negotiation of all finance documents and the loan and security transfer documentation.*
• Bain Capital Credit and a German alternative lender on extending, respectively, an up to €62.5 million mezzanine and up to €120 million senior loan-on-loan financing to a Luxembourg lending platform sponsored by LINUS Digital Finance, a German fintech real estate investment platform, designated to originate mortgage loans across the UK and the EU.*
• a real estate debt solutions arm of a major US financial investor on attracting an up to €123 million loan-on-loan facility from a major US investment bank for the financing of the development of three micro living sites in Spain.*
• PIMCO in connection with extending an up to £75 million loan-on-loan financing to a borrower sponsored by KKR, Sixth Street and Maslow in respect of two development loans secured over residential properties in the UK.*

*Prior to joining Ropes & Gray