Real Estate Finance and Securitization
Dechert’s Finance and Real Estate Group is a leading provider of legal services to the real estate, structured finance and securitization markets in North America and Europe. Comprising nearly 80 lawyers, we deliver legal services in all matters related to capital markets, including capital raising (public and private securities offerings), distressed debt transactions, securitization and structured finance transactions, swaps and hedging, and financial market regulatory compliance. We coordinate and manage major domestic and cross-border transactions throughout the United States, the United Kingdom and continental Europe, offering the comprehensive representation, skill, experience, and cost-effective local support required to achieve the objectives of our clients, many of whom are top industry players.
We handle complex and often cutting-edge transactions for investment advisers, fund managers, investment banks, commercial and mortgage banks, insurance companies, servicers, rating agencies, developers, property owners and occupiers, and other institutional clients. Backing up our team is Dechert’s capacity to deploy its international and national legal expertise across a range of practice areas, including corporate finance, banking and financial institutions, securities, real estate, secured transactions, international and domestic tax, creditors’ rights and insolvency, and environmental law.
Structured Finance and Securitization
We have earned widespread recognition as an authority on securitization and structured finance for our work advising issuers, underwriters, sellers, servicers, liquidity providers, credit rating agencies and other participants in public and private securitizations and other structured finance transactions. Not only do our lawyers know the global capital markets, but through our involvement in organizations such as the CRE Finance Council (CREFC), the Asset Securitization Forum(ASF), the Mortgage Bankers Association (MBA) and the Securities Industry and Financial Markets Association (SIFMA), we have helped shape the industry we serve.
We have achieved a reputation for excellence in real estate-related financing, with particular expertise in multijurisdictional mortgage finance, mortgage loans destined for securitization, mezzanine lending, synthetic and sale-leaseback financing, participations and syndicated loans.
Commercial Real Estate Loan Workouts
We provide commercial real estate lenders and institutional investors sound advice and skillful representation during periods of market disruption, volatility and tight credit, navigating our clients through the complex issues relating to distressed commercial real estate assets, including workout and restructuring transactions, bankruptcies and enforcement proceedings.
Creditors’ Rights and Insolvency
In both the United States and the United Kingdom, we have Creditors’ Rights and Insolvency teams comprised of both trial and transaction lawyers skilled at addressing bankruptcy, restructuring, true sale and securitization issues, as well as the enforcement and realization of security interests.
We have extensive experience in real estate joint ventures, general and limited partnerships, limited liability companies, business trusts and other investment vehicles, including all relevant regulatory and tax issues.
Synthetic Leasing and Sale Leasebacks
We have one of the leading synthetic lease and sale-leaseback practices in the United States. Our leasing attorneys advise lending institutions and facility owners and operators on domestic and cross-border transactions, including real estate and project finance-type transactions, across the globe.
Mergers and Acquisitions
We have acted in many high-profile U.S., UK, and cross-border restructuring, reorganization and takeover transactions involving real estate firms and corporate entities with substantial real estate assets, effectively guiding them through the complexities of M&A transactions.
Our group includes environmental law attorneys skilled in environmental compliance and property and financial risk management, including assessment and remediation strategies and the utilization of risk-shifting devices such as insurance policies to address environmental risks and hazards.
We are widely regarded as the United Kingdom’s preeminent commercial retailing team as well as an industry authority attuned to the latest trends in commercial retailing. We represent the owners of some of the U.K.’s largest shopping centers and retail schemes, as well as occupiers and U.S. and European retailers.
Our U.K. team advises public sector organizations, such as central government departments, local authorities and the National Health Service (NHS), on real estate transactions and developments. Our advice has been critical to enabling these entities to harmonize their role as landowners with the proper discharge of their public sector duties.
We are supported by a large U.S. and U.K. tax team that includes practitioners with cross-border international experience. Our U.K. group has significant capabilities in VAT, stamp duty and company taxation has worked out a wide range of tax-advantageous structures. Our U.S. group includes lawyers concentrating on REMIC, FASIT and other CMBS, CBO and CLO tax structures and lawyers experienced with REITs and other investment vehicles. Our practice also includes advising on withholding tax issues and treaty matters.
We provide the full range of alternative dispute resolution services including mediation, arbitration and other ways of resolving conflicts with the help of a specially trained neutral third party and without the need for a formal trial or hearing. Both in the United Kingdom and the United States, our dispute resolution services are supported by real estate litigation teams adept at representing clients in court and at the negotiating table.