James Esterkin is a partner in the Debt Finance Practice Group in the London office of Kirkland & Ellis International LLP. He acts for UK, US and European private equity sponsors and other real estate investors in relation to the financing of their UK and European real estate assets - including acquisition and development financing, refinancing and restructuring real estate secured debt.
Experience
Representative Matters
Matters undertaken since joining Kirkland & Ellis:
SOF-12 Cambridge BidCo Limited, owned by Starwood Funds, on the c. £467.9 million recommended cash offer for RDI REIT
AXA Investment Managers - Real Assets on the acquisition of the Kadans Science Partner platform
Brookfield:
on the financing for its bid to acquire the £4 billion+ iQ student accommodation portfolio
on the financing of its acquisition of a high-end student accommodation campus in Paris
on its £3bn consortium approach for Intu plc
on the financing for its c.€430 million acquisition of a portfolio of serviced apartments in the UK and the Netherlands
Hospital Topco, majority owned by Centerbridge and KKR, on the c.£1.8 billion disposal of BMI Healthcare and the GHG Group
Bain Capital Credit:
on the financing of its acquisition of a €1.4bn portfolio of non-performing loans in Greece from Piraeus Bank
on the financing of its acquisition of a €700m portfolio of Spanish NPLs and properties from Kutxabank
on the financing of its staged acquisition of a portfolio of residential and commercial properties in Italy from Intesa (formerly forming part of Intesa’s non-performing loan book) for approximately €100m
Blackstone on its acquisition of a portfolio of European logistics assets from Marathon (in partnership with Industrial Securities, part of MARCOL) for €492 million
GLP on the c.€1.1 billion financing of its c.€2.4 billion acquisition of European logistics business IDI Gazeley from Brookfield
Matters undertaken prior to joining Kirkland & Ellis:
Blackstone:
on the financing of a number of Spanish loan-to-own residential mortgage portfolios and platforms
and Logicor on the financing of their €233m acquisition of Rockspring’s French logistics portfolio
on the senior and mezzanine financing of its acquisition of a €1.28bn portfolio of Dutch, German, Danish and French light industrial assets from Hansteen Holdings
and M7 on the senior and mezzanine financing of the estimated £600m acquisition of a UK portfolio of 130 light industrial assets from Brockton Capital and Dunedin Property
on the £320m senior refinancing by Morgan Stanley of the Devonshire Square mixed-use estate in the City of London
on the financing of its acquisition and development of Biomed Realty Trust’s biomedical centres in Cambridge
on the €91m senior financing by Erste Bank of the acquisition of a portfolio of 12 logistics assets and development sites in Slovakia, Hungary, Romania and Poland
and Logicor on the senior term financings of the acquisition of various Dutch and pan-European logistics portfolios
and Multi on the €210m refinancing of the Magnolia Park Shopping Centre in Wroclaw, Poland by ING, PBB Deutsche and PKO
on the financing of European real estate assets purchased as part of its $23 billion acquisition of real estate assets from GE Capital
on the £120m senior financing by BNPP of the multi-let Cannon Bridge House office building in the City of London
on multiple financings and loan assumptions in respect of its €2.7 billion acquisition of a Nordic multi-use property portfolio from funds managed by Obligo Investment Management AS
on the senior financing of the acquisition of the Times Square office building in the City of London
on the financing by ING of the acquisition of a €140m prime luxury retail building in Paris
in relation to the financing of the European real estate assets purchased as part of its $23 billion acquisition of real estate assets from GE Capital
in relation to multiple financings and loan assumptions in respect of its €2.7 billion acquisition of a Nordic multi-use property portfolio from funds managed by Obligo Investment Management AS
on the financing of the acquisition and development of Biomed’s biomedical centres in Cambridge
on the senior and mezzanine financing of its £600m acquisition of Project Sunflower - a UK light industrial portfolio
on the senior and mezzanine financing of its acquisition of a €1.28bn portfolio of Dutch, German, Danish and French assets from Hansteen Holdings
on various ongoing management issues in relation to the financing of the Portuguese Almada and Motijo and Spanish Espacio Leon shopping centres
on the financing of the acquisition of €1.1bn of mortgage debt from NAMA
in relation to the €91m senior financing of the acquisition of a logistics portfolio in Slovakia, Hungary, Romania and Poland with Erste Bank Group
Multi Corporation:
on the amendment of credit arrangements in relation to the redevelopment of an office complex in Rotterdam
on the refinancing of various Polish shopping centres
Round Hill Capital:
on the financing of its €250m investment in the luxury Palo Alto real estate development project
in relation to the financing of the acquisition and development by a joint venture vehicle of Spanish residential assets
Barclays Plc in relation to the £146m clubbed term development facility for Ronson Capital Partners in relation to Riverwalk — a Thames-side luxury residential building
Lloyds in relation to a £266m syndicated term loan facility for Peel Holdings in relation to its regional real estate portfolio
Resolution Holdings in relation to the £125m corporate sale of a national retail property portfolio to KKR
Prior Experience
Simpson Thacher & Bartlett LLP, London
Associate, 2013–2017
Berwin Leighton Paisner, London
Associate, 2013
Trainee Solicitor, 2011–2013
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Recognition
James has been recognised by The Legal 500 U.K., 2020
Credentials
Admissions & Qualifications
2013, Admitted to Practice as a Solicitor of England and Wales
Languages
English
Hebrew
Education
University of Law, LondonLL.M., International Legal Practice2011
University of Law, LondonLPCDistinction2011
University of WestminsterM.Sc., Real Estate Development2009
