Dechert LLP advised funds managed by Apollo Global Management, Inc. on the successful refinancing of the Whiteleys mixed-use development site in west London. The £850 million financing will enable the redevelopment of the former Whiteleys shopping centre to include a luxury hotel, retail units, a movie theatre and residential units. This is part of a larger £1.25 billion property joint venture between Chinese developer CC Land and private equity real estate firm Meyer Bergman.
The deal presented complex issues stemming from the multi-faceted nature of the matter, which required advice on planning, construction, real estate, hotels, tax, joint venture arrangements and security enforcement. Dechert’s London team successfully coordinated this landmark transaction which is particularly noteworthy due to the size of the loan, the volume of documentation – the loan was structured on a senior and mezzanine basis – and the number of jurisdictions involved.
The Dechert team included finance partner Charles Malpass, finance counsel Kevin Gilroy, real estate counsel David Gervais and Edward Johnson, corporate associate Andrew Papworth, finance associate Roxanne Paes and real estate associate Freya Hocking.
About Dechert
Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
