Aparna Sehgal

Aparna Sehgal is a partner in Dechert's global finance practice and head of Dechert’s structured finance and real estate finance teams in Europe.

Ms. Sehgal advises on the financing of complex real-estate backed transactions, often highly structured and/or involving back-leverage arrangements such as loan-on-loans and repurchase facilities. Ms. Sehgal has represented the interests of whole loan/senior lenders; mezzanine debt providers; and both back-leverage counterparties.

Ms. Sehgal's experience in the CREF sector is extensive, covering acting on single-asset and portfolio financings of performing and distressed assets, and assets under development, and on the financing of the acquisition of non-performing loan pools (NPLs).

Ms. Sehgal's expertise includes deep experience of negotiating and documenting complicated intercreditor issues and advising on enforcement strategies, including where operational assets and complex opco-propco structures are involved.

Ms. Sehgal's clients include global financial institutions and private credit providers.

Ms. Sehgal has advised on transactions involving assets and loan pools in the UK, continental Europe, the Nordics and the United States.

Ms. Sehgal is recognized by The Legal 500 UK for her work in property finance and in securitization. Clients have stated that “Aparna Sehgal is a brilliant lawyer, probably one of the best when it comes to highly complex structured financing situations,” that Ms. Sehgal “…has a great eye for detail and is brilliant at helping to steer large and often challenging groups of parties towards agreement on the legal documentation,” and that “she is a legal professional who sorts the wheat from the chaff and remains focused on the bigger picture, without losing a grasp of the detail if that explodes into a more strategic point. Her manner is calm under fire and patient when explaining complex points.”

Ms. Sehgal has previously served as a leader of the firmwide DEI program, and completed Harvard Law School's Executive Education Program for Law Firm Leaders in 2022, designed for experienced Dechert partners taking on leadership responsibilities.

Prior to joining Dechert, Ms. Sehgal was a partner in the London office at another global law firm.

United Kingdom

A global alternative investment manager, on its loan-on-loan financings from a financial institution, in connection with financing to be made available by it to another global alternative investment manager for the acquisition of logistics warehouses, including several in development, in the United Kingdom.
Various financial institutions, each in its capacity as repo buyer in connection with the sale of underlying English assets (including under development) under U.S. repurchase facilities (each in excess of $1 billion).
A financial institution and an asset manager, on their approximately £300 million refinancing of existing indebtedness of one of the "big four" healthcare providers in the UK. The transaction included a simultaneous sale and leaseback transaction and subsequent complex modifications to the finance and transaction documents to allow for the operation from the same platform of homes owned by AXA Investment Managers - Real Assets.
A financial institution and an asset manager, on their approximately £300 million funding of a forward purchase of a portfolio of healthcare homes and their operator, by a healthcare provider in the UK from another healthcare provider in the UK.
A financial institution, on its loan-on-loan financing of an approximately £1.2 billion residential and commercial mortgage loans portfolio throughout the UK.
Wells Fargo Bank N.A., on the approximately £300 million purchase and development of its new European headquarters based in London. The transaction marked the Bank's first freehold purchase outside the United States and included a number of complex construction, development and planning related issues.
An alternative capital provider, on its circa £175 million acquisition and financing of a private hospital in England, to be let under a credit tenant lease to one of the big-5 healthcare providers.
A financial institution, on its circa £150 million bid to acquire a mixed portfolio from LoneStar of approximately 80 assets in the UK comprising high street retail, long-let retail warehouses, leisure facilities, logistics centers and office space.
A financial institution, on its approximately £115 million financing of the acquisition and refurbishment by a joint venture of a prime commercial asset in London.
A Middle Eastern sovereign wealth fund, on its injection of further monies, structured as additional capital on quasi-mezzanine terms, in connection with the circa £50 million redevelopment of a luxury residential development in London.
A financial institution, on its acquisition of the equity (Luxcos) of a portfolio of retail assets in the UK via a consensual process.
A financial institution, on its acquisition of the equity (Dutch BVs) of a retail asset in Scotland via a consensual process.
A U.S. healthcare REIT, on its funding arrangements for the forward purchase and development of a portfolio of care homes with one joint venture partner, and its subsequent refinancing and forward funding arrangements with a subsequent joint venture partner.
An asset manager and a financial institution, in respect of their mezzanine loans secured on seven retail sites in England and Scotland and, further, in respect of the subsequent tranching of the mezzanine debt as between the two mezzanine loan providers.
An asset manager, in respect of its mezzanine loans secured on 30 hotels in the UK and Ireland.

Continental Europe and the Nordics

A syndicate of financial institutions, on their term sheet for the financing of a circa $15 billion bid for the acquisition of a US publicly listed entity owning and operating data centers across the U.S. and in Europe.
Various financial institutions, each in its capacity as repo buyer in connection with sale of underlying assets in France, Germany, Ireland, the Netherlands, Portugal, Spain, Sweden and Switzerland under U.S. repurchase facilities.
A global alternative investment manager, on its approximately DKK 750 million financing of light industrial assets in Denmark, and related back-leverage arrangements.
A financial institution, on its participation in the financing of the approximately €2.6 billion take- private by Blackstone of Sponda, a Finnish real estate company.
A financial institution, as co-arranger, on the financing of Cerberus' approximately €4 billion acquisition, via participation in a joint venture, of 80 percent of BBVA' s non-core real estate assets in Spain.
A financial institution, on its loan-on-loan financing of an approximately €1.2 billion residential mortgage loans portfolio in Ireland.
A financial institution, on its refinancing of an approximately €200 million loan secured on a residential mortgage portfolio in Ireland.
A portfolio of companies, on the restructuring of an approximately €200 million portfolio of loans secured on a portfolio commercial property assets in Cyprus and Greece.
An asset manager, on its acquisition of an NPL pool of commercial property loans and receivables in Slovenia, and a subsequent intended loan-on-loan part refinance.
A financial institution, on its potential loan-on-loan refinancing of part of a marina redevelopment in Spain.

Includes matters handled at Dechert or prior to joining the firm.