DavidSmith

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David Smith has advised clients for more than 25 years on complex real estate developments and investments. David heads the direct real estate team in London, and over the last decade he has advised on close to £15 billion of transactions in the student accommodation and build-to-rent sectors. David also has broad experience in most sectors, including office, retail, industrial, leisure, hospitality, and health care. He acts for a range of clients, including real estate companies, real estate funds, and high net worth investors, many based overseas.

David has advised numerous major developers, including Greystar and Henderson Park on the development of two of the world's tallest modular residential towers in Croydon and Get Living plc in relation to their redevelopment of Elephant & Castle Shopping Centre to create 1,000 apartments, a new London Underground Station, and new university campus.

Experience

  • Greystar commences transformative build-to-rent scheme in Bermondsey, LondonJones Day advised a joint venture partnership between Greystar Real Estate Partners, LLC and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA), on the progression of their landmark development in Bermondsey, London, including the appointment of leading construction firms, McLaren, McAleer & Rushe and Sisk, to simultaneously construct four key buildings to deliver 1,286 new homes, the sale of part of the scheme to London Square to develop 338 Social Rent homes which will be operated by Square Roots as registered provider and a £600 million debt facility from a consortium of four lenders, Standard Chartered Bank (SCB), First Abu Dhabi Bank (FAB), Oversea-Chinese Banking Corporation (OCBC), and Emirates NBD (ENBD).
  • Crosstree purchases £150 million Tottenham Hale student siteJones Day advised Crosstree Real Estate Partners in the acquisition of a site at Tottenham Hale, London to carry out a purpose-built student accommodation development with a gross development value of £150 million.
  • Greystar acquires land to construct and develop a student residence located in Cantoblanco (Madrid)Jones Day advised Greystar Real Estate Partners in the acquisition of a plot of land to construct and develop a student residence located in Cantoblanco (Madrid) through the purchase and sale of the shares of the company BCOME Madrid, S.L. that owns the land, prior cancellation of the surface right that said company had in its favor on the same land, owned by a third party.
  • Greystar secures 391 home BTR forward funding in Staines-Upon-ThamesJones Day advised Greystar Real Estate Partners, LLC on its forward funding of Renshaw's Yard in Staines, a 391-home BTR development in Surrey, from Dandara Living. The transaction marks the latest in Greystar’s strong UK growth strategy.
  • Greystar acquires build-to-rent scheme in Stratford Mill, LondonJones Day advised Greystar Real Estate Partners, LLC on its acquisition of a build-to-rent scheme in Stratford Mill, London.
  • Greystar acquires site for student accommodation development in Wembley ParkJones Day represented a fund sponsored by Greystar Real Estate Partners, LLC in connection with the acquisition of a purpose-built student accommodation development site in Wembley Park, north London from Quintain.
  • Greystar and Vía Célere create joint venture to acquire portfolio of 2,425 rental housing units in SpainJones Day advised Greystar Equity Partners Europe Fund I in relation to its joint venture with Via Célere and the related forward-purchase of a 12 project portfolio of rental housing units in Madrid, Malaga, Valencia, Seville and Bilbao from Via Célere. The Build to Rent portfolio is one of the largest in Spain and will operate under the “Be Casa Essential” brand.
  • Greystar acquires build-to-rent scheme in Bermondsey, LondonJones Day advised a joint venture partnership between Greystar Real Estate Partners, LLC and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA), in its acquisition from Grosvenor of a landmark build-to-rent ("BTR") scheme in Bermondsey, London.
  • Greystar acquires development site from Guildhouse RoseprideJones Day represented a fund managed by Greystar in the acquisition of a development site at One Lansdowne Road, Croydon from Guildhouse Rosepride. The site was acquired subject to existing tenancies for part of the site with a view to achieving vacant possession in the next 12/24 months.
  • Sun Communities acquires Park Holidays UK for $1.3 billionJones Day advised Sun Communities, Inc. on its acquisition of Park Holidays UK for approximately $1.3 billion.
  • Greystar announces €725 million close for flagship pan-European closed-end value-add residential strategyJones Day advised Greystar Europe Investment Management B.V., a subsidiary of Greystar Real Estate Partners, LLC, on the closing of €725 million in equity commitments into its flagship pan-European value-add discretionary vehicle.
  • Greystar acquires £291 million portfolio of UK student accommodations from Nido portfolioJones Day represented Greystar Real Estate Partners, LLC in the £291 million acquisition of five purpose-built student accommodation ("PBSA") assets from the Nido portfolio.
  • CIT Group Partners forms joint venture with Bain Capital Credit for proposed acquisition and development of Grosvenor Gardens House in west LondonJones Day advised CIT Group Partners LLP ("CIT") in connection with the formation of a joint venture and development management arrangements between CIT and Bain Capital Credit relating to the proposed acquisition and development of Grosvenor Gardens House in west London.
  • Goldman sold iQ Student Accommodation dorms to Blackstone for £4.66 billionOn May 15, 2020, Jones Day clients Goldman Sachs Merchant Banking Division and the Wellcome Trust completed the sale of iQ Student Accommodation to Blackstone for £4.66 billion (US$5.73 billion), representing the largest ever private real estate transaction in the UK.
  • CBRE Global Investors, on behalf of international separate account client, acquires Premier Place, Devonshire Square, LondonJones Day advised CBRE Global Investors, on behalf of an international separate account client, in the acquisition of Premier Place, Devonshire Square, London.
  • Delancey and APG Joint Venture acquires Earls Court for £425 millionJones Day represented Earls Court Investment Holdings Ltd, a subsidiary of a joint venture between a fund advised by Delancey and APG on behalf of its pension fund clients, in connection with its £425 million acquisition of EC Group Holdings Limited from a subsidiary of Capital & Counties Properties Plc.
  • Cortland Partners acquires LIV GroupJones Day provided specialist advice to Cortland Partners LLC in relation to its acquisition of the LIV Group, a build-to-rent firm based in Leeds, UK.
  • Greystar and Henderson Park obtain £385 million facility from Cain International for acquisition and development of residential project located in LondonJones Day represented Greystar Real Estate Partners, LLC and Henderson Park in connection with a £385 million facility from Cain International to support the acquisition and development of an 894-home build-to-rent (BTR) residential project located in Nine Elms, London.
  • 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.
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