Dr. Javier Ortega | SDH-Rechtsanwälte

DR. JAVIER
ORTEGA

Contact

Phone: +34 91 668 40 22
E-Mail: ortega[a]sdh-law.eu
Admission: Spain
Address: ES-28001 Madrid, Calle Recoletos 9, 1º

Languages

Spanish, English, German (sworn translator), Russian

Javier Ortega is the partner heading the Madrid office's real estate and finance practice. With more than 20 years of experience in real estate he is specialized in transactions regarding above all commercial property (with a special focus on office buildings, retail, logistic premises, hotels and touristic resorts including large sale & lease back transactions), town planning, structured property finance and mortgage law (including sale of NPLs, refinancing and restructuring of property debt), Spanish REITs (Socimis), commercial leases, construction law, as well as in aviation law.

Prior to joining sdh Javier Ortega worked at Bruckhaus Westrick (Vienna), Uría y Menéndez (Madrid) and, as partner in the RE department, at Cuatrecasas (Madrid) and Herbert Smith Freehills (Madrid) as head of the RE department.

Since many years Javier has received ongoing recognition in the leading legal directories, including EMEA Legal 500 and Chambers Europe.

He has often spoken at venues like the GRI or the Verband Deutscher Hypothekenbanken in Berlin (the German Association of Mortgage Banks) and has held seminars in Germany on Spanish mortgage and finance law for many German banks. Javier holds a JD in law from the Universidad Complutense de Madrid, a JD in law from the University of Vienna, a B.A. in philosophy from the Universidad de Navarra (Spain) and a PhD in law from the University of Vienna.

Track Record - Acquistions

Babcock & Brown, on the €71 million land acquisition and creation of two residential developments (over 3,5 million and 150,000 sqm, respectively), -along with several hotel facilities,- in Marbella, Spain

BBVA FI

on the €28 million acquisition of an office building in Madrid from Commerz Real Spezialfonds GmbH
on the €50 million acquisition of an office building in Madrid from Oppenheim Immobilien KAG mbH

Coca Cola Spain on the €42 million sale and leaseback of its old seat in Madrid and also on the €57 million construction of the new one

Collegium of Land Registrars of Madrid, on the €136 million forward and turn-key sale agreement for the acquisition, from the Carlyle Group, of the plot where the new seat of all future 53 Land Registries of Madrid will be built by the former owner

Commerz Real AG

on the €58 million forward purchase and turn-key construction (by Bouygues Inmobilier) of a retail park in Alcalá de Guadaira (Sevilla), Spain
on a lease agreement with TelePizza regarding half of a 11,500 sqm large building for a yearly rent of €2 million
on a lease agreement with Mercadona regarding an appr. 4,000 sqm large commercial space at the retail park “Parque Guadaíra” (Seville) for a yearly rent of €340,000

Deka Immobilien Investment GmbH

on the €82,2 million acquisition –through sale & leaseback- of BBVA’s headquarters in Barcelona, Spain
on the €90 million sale of an office building at Plaza de Cataluña to Pontegadea in Barcelona (Spain)
on the €82 million construction of a luxus hotel in Port Sóller (Mallorca) to be managed by Jumeirah, the constructor being Wingfield

ECE Projekt Management GmbH & Co KG on its participation at the public tender for the granting of the concession for the management of 7 Spanish railway stations

Ferrovial on the €40 million sale and leaseback of its headquarters in Madrid (Spain) to Ferreiro Properties, a Spanish family office

Greenoak on the acquisition of a factory outlet at Dos Hermanas (Seville) from Unibail Rodamco for € 12 million

Hispania Real Socimi

on the acquisition from IDL of a portfolio of 4 office buildings and two hotels located in Madrid for € 42 million
on the acquisition from IVG of an office and retail building located in Madrid for € 25 million

Internos on the acquisition of an office building in Barcelona (owned by Planeta) for € 51 million (discontinued).

LCN Capital Partners on the leveraged acquisition –as share deal- of the MAC hotel in Alcudia for € 67 million; financing to be provided by Santander (discontinued)

Pryconsa on the Spanish side of the €30 million acquisition (from a German private equity fund) of an office and residential building in Berlin, Germany

Talus RE and Garrison on. the acquisition of two hotels from two SPVs of AC HOTELES for € 20 million, and execution of hotel management agreements with Hilton International and AC.

TUI

on the €96 million acquisition of a majority stake in Anfi Del Mar (and other sister companies), being Anfi the owner of the largest timesharing resort of the world in Arguineguín (Gran Canaria). Adaptation of the resort’s former legal regime and by-laws to the (then) new Timesharing Act and spin off of the original corporation into four (four business branches) also in view of the special tax benefits contemplated by the Zona Especial Canaria
on the €25 million acquisition of a hotel at Can Picafort (Mallorca) from Riu*

Union Investment Real Estate GmbH on the €29 million forward purchase acquisition of a 36,000 sqm large warehouse under construction (developed by Gazeley) to be let by H&M next to Madrid

Warburg-HIH on the sale to Art Invest RE of part of a shopping centre located in Getafe (Madrid)

Track Record - Property finance

Autonomy Spain Real Estate Socimi on the € 39 M refinancing of 6 commercial properties by Banco de Sabadell

Bayern LB

on a € 24,8 M mortgage-backed loan for the refinancing of the acquisition financing of a retail park located in Tarrasa (Barcelona) by Real IS, along with its legal due diligence.
on a € 44 M mortgage-backed loan for the refinancing of the acquisition financing on a trophy building at Gran Vía (Madrid) by TRIUVA Gran Vía 21, S.à.r.L., along with its legal due diligence.

Deka Inmobilien Investment GmbH, on the refinancing of its previous acquisition of BBVA’s headquarters with a €40 million loan granted by Deutsche Hypothekenbank (Actien-Gesellschaft) and Deutsche Postbank AG

Deutsche Hypothekenbank

on the due diligence of a properties portfolio of Testa Inmuebles en Renta and a €132,98 million syndicated mortgage secured loan (along with Eurohypo AG and Münchener
on a €48,5 million mortgage-secured loan tp Warburg-Henderson Nervión SL for the acquisition of a shopping centre in Seville, Spain
on the due diligence of three office buildings located in Madrid and a €88 million mortgage-secured loan granted to a SPV of Pramérica for the refinancing of those properties along with assignment of the mortgage previously created in favour of Norddeutsche Landesbank

Deutsche Pfandbriefbank AG

on the €195 million financing for The Mills of the construction and development of the Xanadú Shopping and Leisure Centre in Madrid (Spain), as well as previous due diligence of the project
on a € 100 M loan made to the municipality of Valencia (Spain)
on the €92 million financing for Pillar Properties of the acquisition of the Nassica Shopping and Leisure Centre in Madrid, Spain
on the €53,7 million financing and later refinancing for Sonae of the development of the Luz del Tajo Shopping and Leisure Centre in Toledo (Madrid), Spain

Deutsche Postbank AG

on a €40 million loan to Deka for the refinancing of its previous acquisition of BBVA’s headquarters. In this transaction all three parties entrusted us their advice (Deka, DHB and Deutsche Postbank AG)
on the restructuring of both the corporate aspects of the listed company Inmobiliaria Colonial and of its €4,9 billion debt vis-à-vis a large syndicate of banks -led by RBS as agent- which encompasses Deutsche Postbank AG
on the sale of its ca €100 million sale to BAML (Bank of America Merril Lynch) of Postbank's stake in the syndicated loan over €4,9 billion made to Inmobiliaria Colonial
on the sale to CITIGROUP of its € 195 million participation at the mortgage-secured syndicated loan to Marme Inversiones 2007, S.L. for the acquisition of the Financial City of Santander.
on the syndication of a € 20 M stake in the € 105 million mortgage-secured syndicated loan made by Aareal and Münchener Hypo to a jv of Warburg Henderson and a local developer for the construction of the Miramar shopping center (Fuengirola)
on the restructuring of the € 72 M syndicated loan made to the Town Hall of Jerez de la Frontera along with BBVA, Dexia, Elliot Partners, FMS Wertmanagement, Caixabank and other lenders.
On the syndication of a € 34,5 M stake in the € 280 million mortgage-secured syndicated loan made by (initially) ING and Caixabank to a spv of Grupo Emperador to refinance the acquisition of the skyscraper “Torre Espacio” in Madrid

Münchener Hypothekenbank eG

on the €65,5 million mortgage-secured financing (and later refinancing) granted by this bank and Eurohypo to Sonae for the construction of the "El Rosal" shopping center in Ponferrada, Spain*
on the due diligence of a retail building in Madrid (C&A's flagship) and a €27 million mortgage secured loan to a SPV of GLL for the acquisition of those properties
on the due diligence of an office building at AZCA (Madrid) and a €12 million mortgage secured loan to Iberinve (a French investment group) for the refinancing of this property
on the due diligence of the shopping centre "Nervión Plaza" (Seville) and a € 48,5 million mortgage-secured loan for the refinancing (through mortgage subrogation) of this property
on the due diligence of H&M's flagship in Málaga and a € 12 million mortgage-backed loan made to Patrizia Immobilien for its acquisition.
On the syndication of a € 24,12 M stake in the € 280 million mortgage-secured syndicated loan made by (initially) ING and Caixabank to a spv of Grupo Emperador to refinance the acquisition of the skyscraper “Torre Espacio” in Madrid.
On the due diligence of an office building located in Paseo de Recoletos 16 (Madrid), owned by Iberinve, S.A. (Victor Hugo Holdings) and on the assignment to Münchner Hyp of a € 9 M mortgage-backed loan previously made by Düsseldorfer Hypothekenbank AG to Iberinve.
On the due diligence of further two retail units located in the Lanbarren retail park, let to Mercadona and Brico Depot, to be acquired by a spv of IM Savills European Retail Fund and on a € 8 million mortgage-backed loan to be made to said spv.
On the due diligence of two retail units (warehouses) in Bilbao and Pamplona let to Forum to be acquired by REEFF (Deutsche Asset Management) and on a € 9 million mortgage-backed loan to be made to a Spanish spv linked to REEFF for their acquisition (discontinued).
On the due diligence of a 35,000 sqm large warehouse located in Valdemoro (Madrid), let to El Corte Inglés and Bricor, to be acquired by a SPV of the German KVG “Institutional Investment Partners”, and on a € 9,67 M mortgage-backed acquisition facility, along with a package of other securities for its acquisition.
On the due diligence of two warehouses (aggregate surface: 35,000 sqm) located in Leganés (Madrid), let to Cadyssa and XPO Logistics, to be acquired by UBS from Invesco, and on a € 16 M mortgage-backed acquisition facility, along with a package of other securities for its acquisition.
On the due diligence of the shopping center “Metromar” (Seville), to be acquired by Schroders from UBS, and on a € 23,35 M mortgage-backed acquisition facility, along with a package of other securities for its acquisition.
On the due diligence of two logistic warehouses in Plaza (Zaragoza) let to Mercadona and Kühne und Nagel, to be acquired by Savills IM Retail Fund from Ibercaja, and on a € 9,5 M mortgage-backed facility, along with a package of other securities for its acquisition.
On the due diligence of one 14,321 m2 large hypermarket located in S. Sebastián (let to Eroski), to be acquired by Savills IM Retail Fund, and on a € 24 M mortgage-backed facility, along with a package of other securities for its acquisition.

Orton Development Inc. (direct lending) re. the restructuring of a € 16,5 million mortgage-secured loan made to Single Home for the development of a high end dwelling complex in Aravaca (Madrid) and international tax planning related thereto

Westdeutsche Immobilienbank

on the due diligence of a shopping centre in Carcaixent (Valencia) and a €32 million mortgage-secured loan granted to to UBS Real Estate for the acquisition of that property. Later refinancing of the previous loan.
on the due diligence of an office building in Madrid (Egeo building) and a €30 million mortgage-secured loan granted to MEAG Munich Ergo KAG mbH for the refinancing of that property
on the due diligence of two large logistic warehouses located in Getafe, Madrid and a €29,6 million mortgage-secured loan granted to Invesco for the refinancing of those properties and a hotel located in Munich
on the refinancing of a €157,5 million cross-collateralized and mortgage-secured syndicated loan (along with Royal Bank Of Scotland, Ing Real Estate Finance and Pfandbriefbank) made to Heron City Madrid and Heron City Paterna for the development of two malls located in Las Rozas (Madrid) and Paterna (Valencia), Spain
on the due diligence of an office building in Madrid (Egeo) and a €30 million mortgage-secured loan granted to LAR ESspaña Real Estate Socimi for the acquisition of that property and subrogation in the existing loan by WestImmo.
on the refinancing of a mortgage-secure loan over CHF30,9 million made to Dunaoasis Palace (a SPV of the Gerlach Group) for the acquisition of the Maspalomas Palm Beach Hotel at Gran Canaria, Spain
on the due diligence of an office building in Madrid (Egeo) and a €30 million mortgage-secured loan granted to Lar España Real Estate Socimi for the acquisition of that property and subrogation in the existing loan by WestImmo.
on the refinancing of a mortgage-secure loan over € 10 million made to Ashi 85 (another SPV of the Gerlach Group) for the acquisition of the Gran Hotel Residencia at Gran Canaria, Spain