DavidSmith

Partner

(T) + 44.20.7039.5285

David Smith's practice focuses on complex investment and development real estate transactions, often involving detailed tax or corporate structuring. He has broad experience in most sectors, including office, retail, industrial, leisure, and hospitality. He has acted for a range of clients including real estate companies, real estate funds, and high net worth investors, many based overseas.

David's recent experience includes advising Goldman Sachs and Greystar Real Estate Partners on their purchase of a portfolio of 21 student and private rent properties, advising CIT Real Estate Partners on the purchase and development of a number of central London properties, and advising Meyer Bergman on their development of a Westfield Shopping Centre in Bradford. He also has acted for a number of overseas private investors purchasing and selling high-profile buildings in the City of London.

Other representative clients include Alanis Capital, CBRE Global Investors, Hilton Hotels, IBRC Assurance Company, Jarvis Hotels, Lioncourt Capital, Macquarie Capital, Morgan Stanley Real Estate Funds, Somerston Hotels, Warren Private Clients, and Wells Fargo.

Experience

  • Chapter acquires Central London Student AccommodationJones Day advised Chapter in its acquisition of the entire issued share capital of Reining Limited and Paul Street (General Partner) Limited and the resulting interest in a Central London student accommodation property known as Paul Street East at 18-20 Paul Street, London, EC2A 4JH.
  • Greystar sells Building 3 Oldfield Lane North, Greenford, London to Telford Homes for £28.4 million ($36.4 million)Jones Day advised Greystar Real Estate Partners, LLC in its £28.4 million ($36.4 million) sale of Building 3 Oldfield Lane North, Greenford, London to Telford Homes Plc.
  • Greystar recapitalizes Chapter student accommodation portfolio in Central LondonJones Day advised Greystar Real Estate Partners, LLC in a recapitalization of its and PSP’s Chapter portfolio of student accommodation properties, one of the largest in Central London, by consolidating the portfolio under a new joint venture in which Allianz acquired an interest.
  • DV4 and Oxford Properties form DOORJones Day advised DV4 Ltd (“DV4”), which is advised by Delancey Real Estate Asset Management Ltd, on the sale of DV4's interests in Get Living, the UK’s leading privately backed residential company, to Delancey Oxford Residential (“DOOR”) a new co-investment platform with initial capital commitments of £600 million; the establishment of DOOR, which includes the joint venture between DV4 and Oxford Properties; and on real estate matters related to the London scheme, Elephant Central in Elephant and Castle which is part of the Get Living portfolio.
  • South Bank Tower sells remaining 38 luxury apartmentsJones Day advised South Bank Tower Limited in connection with the sale of the remaining 38 luxury apartments in South Bank Tower, the residential landmark on the South Bank, Central London.
  • iQ Student Accommodation acquires Pure Student Living from L1 TreasuryJones Day acted for iQ Student Accommodation in relation to its acquisition of the UK focused Pure Student Living student housing property portfolio and business from LetterOne Treasury.
  • Greystar refinances acquisition of portfolio of residential properties in LondonJones Day represented Greystar Real Estate Partners, LLC in connection with a term loan facility provided by National Bank of Kuwait (International) Plc used to refinance the acquisition of a portfolio of residential properties in London.
  • Greystar acquires student accommodation portfolio in SpainJones Day advised Greystar Real Estate Partners, LLC in its joint venture with AXA Investment Managers - Real Assets, acting on behalf of its clients, and CBRE Global Investment Partners (CBRE GIP), also acting on behalf of its clients, in its acquisition of a portfolio of 37 student residences in Spain (33 operating and 4 under development) owned by Grupo RESA (Spain's market leader in student accommodation), from Azora, Arta Capital, Banca March, and Mutua Madrileña.
  • Cortland Partners forms JV to develop build-to-rent properties in UKJones Day advised Cortland Partners LLC in its formation of a joint venture with Orion Land & Leisure Limited, Colony Northstar, Inc, and Asia Capital Real Estate focusing on the development and letting of build-to-rent properties and the acquisition of land for such development, primarily located in Greater London and other selected markets in the United Kingdom.
  • Greystar acquires site to develop 200+ bed student housing property in Islington, London by way of joint ventureJones Day advised Greystar Real Estate Partners, LLC on the acquisition and development of a 200+ bed student housing property in Islington together with the formation of a joint venture by way of a Jersey unit trust to carry out such development.
  • Henderson Park Real Estate Fund I acquires London and Birmingham Hilton Metropole hotelsJones Day represented Henderson Park Real Estate Fund I in connection with its acquisition of the London and Birmingham Hilton Metropole hotels.
  • Greystar obtains financing for development of purpose built student accommodation in LondonJones Day advised Greystar Real Estate Partners, LLC in connection with a development and investment term loan facility in respect of purpose built student accommodation in London.
  • Greystar agrees to acquire plots from Royal Mail at Nine Elms in Battersea (London) for £101 millionJones Day advised Greystar Real Estate Partners, LLC regarding the acquisition of plots from Royal Mail at Nine Elms in Battersea (London) for £101 million.
  • Greystar forms joint venture to acquire and develop student housing property in LondonJones Day advised Greystar Real Estate Partners, LLC in its formation of a UK joint venture for the purposes of acquiring and developing a student housing property in Savoy Circus, London and advised the joint venture in relation to the purchase and development thereof.
  • Greystar obtains financing for three properties located at 2 Millharbour, LondonJones Day represented Greystar Real Estate Partners, LLC in the development and financing of three properties located at 2 Millharbour, London.
  • Wells Fargo provides £184 million financing for acquisition of portfolio of UK retail propertiesJones Day represented Wells Fargo Bank, N.A., London Branch, as arranger, agent, and original lender, in connection with a £184 million (US$234.4 million) syndicated term loan facility provided to a U.S. private equity buyer to finance the acquisition of a portfolio of 64 properties leased to a leading UK retailer.
  • Vero Group refinances iQ student housing portfolioJones Day advised the Vero Group, a joint venture between Goldman Sachs and The Wellcome Trust in connection with the £375 million (US$485 million) refinancing of the iQ student housing portfolio.
  • Greystar obtains financing for 600+ bedroom student accommodation property at Sherwood Court in LondonJones Day advised Greystar Real Estate Partners, LLC, a provider of multifamily property management, development, and investment services in the United States, in connection with the purchase, development, and financing of a 600+ bedroom student accommodation property at Sherwood Court, Lewisham, London.
  • Goldman Sachs, Wellcome Trust, and Greystar launch £2 billion (US$2.8 billion) student housing companyJones Day advised the REPIA division of Goldman Sachs International in connection with the formation of the £2 billion (US$2.8 billion) student housing business to be known as the Vero Group.
  • Greystar purchases GSK and bakery site and forms joint venture with global real estate companyJones Day represented Greystar Real Estate Partners, LLC in its purchase of former GSK and bakery site (Future PRS), and the formation of a joint venture with a global real estate company.
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