Dima Orendarets is counsel in the private equity real estate practice based in London.
Dima’s experience includes advising both lenders and sponsors on a variety of high-profile real estate finance transactions, including investment and development deals, senior/mezzanine financings, and loan-on-loan financings. He also advises both financiers and originators on real estate related structured deals, including private CMBS transactions and warehousing transactions.
Dima’s experience is across a range of real estate assets classes including logistics, hospitality, build-to-rent, student housing, offices and data centres, with clients mainly being financial investors (such as debt and private equity funds) and investment banks.
Dima is recognised as a Rising Star and Leading Associate in the Legal 500 (Property Finance).
Experience
Representative experience includes advising:
- Davidson Kempner in connection with attracting a number of loan facilities totalling 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.*
- 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.*
- 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 club comprising Deutsche Pfandbriefbank, a UK-based investment manager, a UK-based 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.*
- CBRE Investment Management, as asset manager for one of the largest sovereign wealth funds, on a £570 million securitisation of a commercial real estate portfolio, which involved the drafting and negotiation of all finance documents and the loan and security transfer documentation.*
- a major US investment bank in relation to providing an up to €150.6 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.*
- 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 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 real estate debt solutions arm of a major US financial investor on attracting an up to €123.5 million loan-on-loan facility from a major US investment bank for the financing of the development of three micro living sites in Spain.*
- Hillwood Investment Properties in connection with an up to €102 million facility to finance the acquisition and development of nine logistics properties across Germany.*
- 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