Real Estate Private Credit
An Asia-based private credit platform, with respect to a secured term construction facility to a UAE-based real estate developer of luxury properties, in connection with the construction of a portfolio of its luxury villa projects in Dubai.
Nomura Special Investments Singapore Pte. Ltd., on a cross border, structured real estate financing in Dubai, for a leading luxury real estate development in the UAE.
Cerberus in connection with a USD loan made to a UAE property developer secured against receivables from completed projects.
Nomura Singapore Limited, as lead arranger and lender, together with TOR Asia Credit Opportunity Master Fund III LP, as co-lender, in connection with the development financing of an ultra-luxury residential development and beach resort in Dubai. The transaction was structured as a $100m mezzanine private credit facility which was primarily intended to finance the equity recapitalization of the borrower’s affiliates.
Acquisitions and Dispositions
NBK Capital Partners Real Estate Fund and Janus Henderson Emerging Markets Private Investments on the sale of the real estate leased to Hartland International School in Dubai to Elevate, a portfolio company backed by Rava Partners in collaboration with Alta Capital.
Sweid & Sweid, a leading real estate private equity and development firm, on its acquisition of Aurora Tower, a prominent office building located in the heart of Dubai Media City.
Bureau Lamar SPV, an affiliate of Lamar Development, in connection with the purchase from Shamal Estates LLC of a strategic plot of land in Business Bay for development purposes.
SICO Capital Company, the manager of Flow MENA Residential Real Estate Fund 1, in connection with the purchase and operation of a portfolio of c. 687 residential units in Saudi Arabia. The transaction marks the first significant international expansion of the co-living community startup backed by Adam Neumann, the co-founder of WeWork.
Affiliates of Driven Properties, in connection with the purchase of the iconic Emaar Square Building No. 3 in Downtown Dubai. The building was the former HQ of Emaar Properties and comprises almost 230,000 sq ft of leasable area. The acquisition stands as the largest real estate deal in Downtown Dubai in 2024.
Peninsula Real Estate Management Limited in connection with its AED 555 million purchase of 17 income generating warehouse assets in Al Markaz industrial development in Abu Dhabi.
Apollo Global Management in connection with its US$ 500 million strategic equity stake in Adar Investment Properties (AIP), a subsidiary of Abu Dhabi-listed Aldar Properties PJSC and the region’s largest institutional-class real estate platform with assets across retail, residential, commercial, and logistics segments.
A Kuwaiti Shareholding Company K.S.C. (closed), in connection with a Sharia compliant sale and leaseback of a workers’ accommodation.
Real Estate Aspects of Structured Finance
Arcapita on a flagship forward-funding investment and partnership with ASMO (a joint venture between Aramco and DHL Supply Chain) to develop a large-scale logistics and warehousing facility at King Salman Energy Park (SPARK) in Saudi Arabia.
Apollo Global Management and its consortium of institutional investors in connection with its US$2.7 billion acquisition of a 49% stake in in Abu Dhabi Property Leasing Holding Company RSC Ltd from Abu Dhabi National Oil Company (ADNOC). This structured finance transaction allowed ADNOC to maintain full ownership and control over its real estate portfolio while leveraging the rental income streams from the same (valued at US$ 5.5 billion) pursuant to a 24-year Master Lease Agreement.
Apollo Global Management in connection with its US$ 500 million real estate structured finance investment in the landbank of Aldar Properties PJSC.
Muraba Properties LLC in connection with their ultra luxury Muraba Veil off-plan development in Dubai, including title structuring advice and preparation of bespoke off plan sales and strata documents.
A leading developer in Dubai in connection with various hospitality projects in the UAE, including assistance in the drafting of the standard sale and purchase agreements, fractional ownership and rental guarantee documentation.
A leading developer in Ras Al Khaimah, in connection with the drafting of its standard sale and purchase agreements with sub-developers.
Property Funds and Listed Companies
Emaar Development PJSC, the development arm of Emaar Group, in connection with its US$1.5 billion initial public offering of ordinary shares and listing on the DFM.
Abu Dhabi National Oil Company (ADNOC) in connection with the real estate restructuring exercise required as part of the readiness phase of its US$ 851 million initial public offering.
A Saudi family office in connection with the appointment of an international hotel operator for three hotels in Riyadh and Khobar.
A school operator in connection with a build-to-suit lease of a school in Dubai.
A Saudi institutional investor in connection with a built-to-suit transaction with a leading operator relating to an orthopedic healthcare facility in Jeddah.
A multinational bank in connection with the leasing of various assets comprising its portfolio in the GCC
Pacha Group in the negotiation of hospitality management services with Five Hotel.
A Real Estate Investment Company in connection with its proposed initial public offering of shares (primary offering) on ADX.
A private owner in connection with the lease of its hotel in Dubai.
Softbank in connection with its lease of offices in ICD Brookfield.
Dogus Group, in relation to the lease of various commercial and retail premises in the UAE.
Distressed Assets and Special Situations
Hayfin Capital Management, a hedge fund, in connection with its financing of Imperial Avenue project in Downtown Dubai under development by Shapoorji Pallonji International Property Developers, the development arm of Shapoorji Pallonji.
Palladium Group, as operator, in connection with the hotel and branded residences project known as The Al Marjan Island Hotel and Residences in the Emirate of Ras Al Khaimah. Tasks included the preparation and negotiation of the full range of branded residences and off-plan sales and strata documents.
IHHR Hospitality Ananda Private Limited in connection with its appointment as the manager of a luxury wellness resort in Triple Bay, Amaala, Saudi Arabia.
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