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Partha S. Pal

Partha S. Pal focuses his practice on the financing of commercial real estate assets. Partha has led the execution of transactions involving real estate assets in the UK, Germany, France, Italy, Belgium, the Netherlands, Spain, Portugal, Sweden and Finland, as well as in South Korea, PRC, and Hong Kong.

Partha's experience covers the whole spectrum of commercial real estate lending arrangements, acting for both bank and non-bank lenders as well as for borrowers. He has experience of all major commercial real estate asset types including assets which involve active operation such as student accommodation, common work spaces, petrol stations, data centres and private rented sector/build to rent assets. In addition, he has deep experience of loan-on-loan financing and loan repo arrangements as well as sophisticated capital markets products relating to commercial real estate, particularly commercial mortgage backed securities and real estate related non-performing loan securitisations. He also advises regularly on regulatory matters relating to investments in securitised products, particularly in relation to risk-retention considerations.

Given his long experience of the securitisation and structured finance markets, Partha has and continues to advise on structured financing transactions involving other asset classes such as residential mortgage loans, commercial loans, consumer loans, trade receivables, equipment lease receivables, and credit card receivables.

Partha joined Greenberg Traurig, LLP in November 2018 from another leading U.S. law firm's London office.

Concentrations

  • Commercial real estate finance (lender and borrower representations; whole loan, senior loan and mezzanine loans; investment finance and construction finance; distressed and rescue financings)
  • Cash-flow and synthetic commercial mortgage backed securities
  • Commercial real estate loan sales
  • Commercial real estate loan-related whole sale financing arrangements
  • Non-performing loan sales and securitisations
  • Securitisation and structured financing transactions
  • Fund financings relating to commercial real estate funds
  • Related financial restructuring and regulatory matters

取扱分野

実績紹介

  • Acted for the lender (a leading U.S. insurance company) in the financing of an office building in the City of London with a whole loan in an amount of approximately £ 200 million.°
  • Acted for the lender (a leading U.S. insurance company) in the financing of a private rented sector asset in Manchester with a whole loan in an amount of approximately £ 26 million.°
  • Acted for the lender (a Luxembourg debt fund) in the financing of a portfolio of office and residential assets in London with a mezzanine loan in an amount of approximately £12 million, with a senior loan being provided by a UK clearing bank.°
  • Acted for the lender (a Luxembourg debt fund) in the refinancing of development land in the UK, with a whole loan of £ 5 million.°
  • Acted for the lender (a Luxembourg debt fund) in financing a portfolio of common workspace assets with a mezzanine loan in an amount of £25 million, with a senior loan provided by a non bank lender.
  • Acted for the lender (a Luxembourg debt fund) in the financing of an office building in Leeds with a whole loan in an amount of £20 million.°
  • Acted for the lender (a Luxembourg debt fund) in the financing of a portfolio of shared workspace assets in London in an amount of approximately £150 million.°
  • Acted for the lender (a Luxembourg debt fund) in the financing of a portfolio of petrol service station in an amount of £26 million.°
  • Acted for the capital partner (in a joint venture with an operating partner) in relation to the financing of a senior living development in London in an amount of £100 million.°
  • Acted for the sponsor in relation to the financing of the acquisition of an office building in the City of London in an amount of £95 million.°
  • Acted for the sponsor in relation to the financing of the acquisition of an office building in the City of London in an amount of £55 million.°
  • Acted for the capital partner (in a joint venture with an operating partner) in relation to the financing of the acquisition of a data centre in the Netherlands.°
  • Acted for the sponsor in the refinancing of a portfolio of 24 commercial real estate assets in the UK through a combination of a senior loan (provided by a UK insurance company lender) and a mezzanine loan (provided by a Luxembourg debt fund).°
  • Acted for the sponsor in the development and financing of one of the world's largest data centres in the Netherlands with a financing package of €400 million provided by a leading investment bank.°
  • Acted for the capital partner (in a joint venture with an operating partner) in relation to the financing of a Grade A office development in Paris in an amount of €130 million.°
  • Acted for the sponsor, the credit arm of a leading private equity house in the acquisition and financing of a portfolio of Spanish non-performing loans secured on commercial and residential real estate. The financing was structured as a securitisation in an amount of approximately €30 million.°
  • Acted for the sponsor, the credit arm of a leading private equity house in the acquisition and financing of a portfolio of Spanish non-performing loans secured on commercial and residential real estate. The financing was structured as a securitisation, in an amount of approximately €72 million.°
  • Acted for the sponsor, the credit arm of a leading private equity house in the acquisition and financing of a portfolio of Spanish non-performing loans secured on commercial and residential real estate. The financing was structured as a securitisation, in an amount of approximately €50 million.°
  • Acted for the credit arm of a leading private equity house in providing an approximately Euro 1 billion credit facility to part finance the acquisition of a Spanish NPL portfolio involving the repackaging of the loan into notes and a repurchase agreement in relation to the notes.°
  • Acted for the lender (a Luxembourg debt fund) in providing a loan-on-loan financing to another lender who provided loans to small and medium sized UK real estate developers.°
  • Acted for the arrangers in more than 30 CMBS and CRE CDO 1.0 transactions including Morgan Stanley, JP Morgan, Barclays, Deutsche Bank and Credit Agricole. These included first of a kind transactions such as the financing of the BBC's landmark building in London, the first ever pan-European CMBS transaction and the first ever combined cash flow and synthetic pan-European CMBS transaction.°
  • Acted for the sponsor in a £ 70 million commercial mortgage backed securities offering relating to a shopping centre in Swindon. The transaction involved the refinancing of a loan that was held in an existing commercial mortgage backed securities offering.°
  • Acted for the Borrower in the discounted pay off and subsequent refinancing of a loan backed by a portfolio of commercial real estate assets held within a CMBS transaction.°
  • Acted for various CMBS servicers and special servicers in respect of CMBS restructurings following the global financed crisis.°
  • Acted for a significant limited partner in a real estate fund in a leveraged recapitalisation arranged by the general partner, resulting in a distribution to the limited partners and altered control rights in respect of the capital structure.°
  • Acted for an investment fund in leveraging its investment in the shares of three real estate investment trusts through a margin loan in excess of €100 million.°

°The above representations were handled by Mr. Pal prior to his joining Greenberg Traurig, LLP.

受賞歴・所属団体

  • Team Member, PERE Global Awards, Law Firm of the Year: Fund Formation in Europe, 2018 
  • Listed,The Legal 500 UK, 2015-2018
    • Real Estate Finance, 2015-2018
    • Securitisation, 2016-2018
    • Structured Products, 2018
    • Derivatives, 2018
    • Real Estate Finance, 2015-2017
    • Emerging Markets Finance, 2015
  • Commercial Real Estate Finance Council in Europe
  • Co-Chair, Hedging Working Group, 2007-2018
  • Co-Chair, Private Rented Sector Finance working group

学歴・資格・言語

学歴
  • LL.M., Georgetown University Law Center, 1996
  • B.A. (Hons), Law, University of Cambridge, 1992
  • M.A., University of Cambridge, 1996
  • Bar Vocational Course, Inns of Court School of Law, 1993
弁護士資格
  • England and Wales
言語
  • Bengali, Fluent
  • Hindi, Basic Conversation