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Profile picture of Gerry Mulholland

Gerry Mulholland

Partner

About Gerry

Gerry is the head of our real estate finance and non-performing loan teams. In 2013/2014 he has been most active working with US Opportunity Funds acquiring portfolios of non-performing loans secured on commercial real estate in the UK & Europe. Most recently his team has:-

  • worked with lenders selling portfolios of non-performing real estate loans with a face value in excess of £1.4bn
  • delivered / are delivering finance and property DD on assets in the UK, Germany & France with an aggregated face value in excess of £21bn with over 4000 properties
  • advised the purchaser of a portfolio of 50 loans secured on commercial real estate throughout the UK, with a face value of £300m, originated and sold by an Irish bank. This involved the establishment of the bidding vehicle, a special purpose vehicle incorporated in Luxembourg, and advising the client as to tax and regulatory matters, a full finance and real estate diligence and reporting exercise and the drafting, negotiation and execution of the loan sale and security transfer
  • acted on the purchase of a portfolio of over 20 UK commercial real estate loans (with a face value in excess of £400m) by a Luxembourg-based joint venture company established by us for that purpose. We acted on the creation of the vehicle as well as associated tax/corporate matters.
  • closed (including initial advice on structuring and tax aspects) the purchase of a non performing residential mortgage book over properties across the UK, with a face value of £100+m. We have over 15 years experience of mortgage portfolio sales and acquisitions, having acted on over 100 such transactions in that period.
  • advised two US Opportunity Funds acquiring debt secured against a portfolio of commercial investments across the UK – face value in excess of £450m.
  • worked with a US Opportunity Fund on the acquisition of debt and the recapitalisation of a UK property business. We worked on the structuring of the vehicle and advised on the tax, structuring and contingency planning.
  • advised a US Fund on the acquisition of defaulting debt secured on over 50 hotels.

Gerry also takes a supporting role where our jurisdictional coverage or headcount is relevant and has significant, recent, experience partnering and working with a:-

  • Magic Circle firm delivering financial and property due diligence on a portfolio of pan-European NPLs (with a face value in the, many, £billions).
  • US law firm on the financial, property and hospitality due diligence on a portfolio of hotel NPLs across the UK. 
  • global, US based, law firm on the diligence aspects of a proposed acquisition by a US REIT of an operating business with over 130 properties for a consideration in excess of £900m.
  • Magic Circle firm on the diligence aspects of a European retail business with over 100 properties where the consideration was over £800m.
  • number of New York based law firms and US Opportunity Funds on the banking and property diligence aspects of a series of connections with a large number of commercial real estate investments across jurisdictions in the United Kingdom.
  • Magic Circle firm on the banking and property due diligence in anticipation of a loan sale of 40 connections and 250 properties where the face value of the portfolio was in excess of £350m
  • Magic Circle firm and dealing with vendor due diligence on a sale of an operating business for a reported £700m.

Education

LLB (Hon.s) - Universtity of Dundee