The "quick, technically superb" David O’Connor "always looks to protect clients’ interests, pre-empts risky situations, and provides excellent advice". He is "a fantastic adviser with great market contacts; he really helps to get deals over the line with top-quality legal advice".Legal 500 2017
David O’Connor is a structured finance and securitisation partner in Mayer Brown’s London office. He has represented lenders, arrangers, servicers, borrowers and investors in numerous financing transactions and restructurings involving commercial real estate debt in Europe. He works closely with hedge funds, private equity funds and investment banks on CMBS, RMBS and covered bond transactions. He also advises on whole business securitisations, trade receivables securitisations, warehouse lines and loan portfolio sale transactions (both distressed and performing).
Prior to joining Mayer Brown in 2013, David worked in the London and Tokyo offices of another major international law firm and also spent three years working as an investment banker in the European Commercial Real Estate Group at Deutsche Bank in London.
The following is a representative sample of recent transactions.
- Acted for the Arrangers and Lead Managers on a €540 million CMBS transaction. The transaction is the securitisation of a loan which was used to fund Blackstone’s €1.8 billion acquisition of Sponda which is Finland’s largest real estate company. The transaction was the first ever CMBS out of Finland and the first ever dual EU and US risk retention compliant CMBS transaction.
- Numerous other borrowers and servicers on various other pan European CMBS restructurings (previous company).
- Advice to a sovereign on the establishment of a national “bad bank” (previous company).
- Acted for the Lead Managers in the £331.2 million auto loan securitisation issued by Globaldrive Auto Receivables UK 2018-A plc. The transaction involved the issuance by Globaldrive of £300 million of Class A Notes and £31.2 million of Class B Notes backed by a portfolio of UK retail auto hire purchase receivables, purchased by Globaldrive from FCE Bank plc, which is part of the Ford Motor Company. The notes were publicly listed on Euronext Dublin on 29 May 2018. We also represented Wells Fargo Trust Corporation Limited as Note Trustee and Security Trustee, Wells Fargo Bank International UC as Cash Manager and Elavon Financial Services DAC as Paying Agent and Registrar on the transaction.
- Several mortgage originators and investment banks on covered bond programme establishments and issuances.
- Various investment banks on establishments and issuances from standalone and master trust RMBS programmes.
General Structured Finance
- Various structured repo transactions involving RMBS collateral.
- A major hedge fund on the acquisition of a UK RMBS portfolio.
- A hedge fund on a loan portfolio acquisition.
- England and Wales
- Member of the Regulatory Committee of the Commercial Real Estate Finance Council
- David O'Connor has a varied real estate finance practice, which includes experience in CMBS matters and mezzanine finance. Clients say: "He is very responsive, very commercial and very easy to get on with, which makes a big difference when doing deals." He is also described by sources as "a good technical lawyer who is client-friendly." - Chambers UK 2019, Real Estate Finance.
- David O'Connor is "technically excellent, extremely commercial, and understands the bigger picture," according to sources, who add that "he's ultra-responsive at any time." He is a particularly highly regarded adviser in the CMBS and RMBS markets. (Chambers UK 2019, Capital Markets: Structured Finance, Securitisation & Derivatives)
- The "very commercial and creative" David O’Connor has a "solid background across a number of different areas", although he is best-known for his real estate-related structured finance prowess. - Legal 500 2018 Bank Lending.
- Dominic Griffiths and David O’Connor, who has a broad-based securitisation practice but is best-known for CMBS and RMBS transactions, "are among the best lawyers on the street". - Legal 500 2018 Securitisation.
- David O'Connor advises clients on a broad range of property finance matters, including commercial-backed mortgage securitisations and loan origination. Clients praise his "very strong commercial acumen and good judgement." Sources praise David O'Connor's "broad background," saying: "He is a lawyer but he has worked in an investment bank on a securitisation desk so he gets the commercial considerations as well." He focuses his practice on advice relating to CMBS, among other securitisation transactions. - Chambers UK 2018.
- Clients note: “David O'Connor at Mayer Brown is a highly-skilled adviser. He has a real ability to help craft a deal and with good market contacts can really help pull things together. He is also keenly aware of the importance of competitive billing and provides real value for money. “David is an excellent deal lawyer. Highly responsive, enthusiastic and commercial with a deep industry knowledge. He has a great breadth of expertise, spanning both commercial real estate and securitisation”. “Strong lawyer with good command of the law as well as pro-active and pragmatic attitude. This allows deals to get done, rather than to get talked about.” “Excellent communication and very commercial.” - IFLR 1000 2017.
- The "quick, technically superb" David O’Connor "always looks to protect clients’ interests, pre-empts risky situations, and provides excellent advice". He is "a fantastic adviser with great market contacts; he really helps to get deals over the line with top-quality legal advice". Legal 500 2017.
- David O'Connor counts securitisation work as a mainstay of his practice, with regular work on ABS. Sources say: "He is very commercial and allows the client to focus on key issues so they don't have to deal with the technicalities." - Chambers UK 2017.
- "Strong, commercial partner" David O’Connor is "great at driving deals forward and can manage complex transactions with a quick timeline". "Responsive, commercial and hardworking" - Legal 500 2016.
- The "technically brilliant" David O'Connor "has a deep knowledge of the industry and the way the banking world works," according to one client - Chambers UK 2016.
- David O’Connor, who is "very commercial and excellent at driving complex transactions to completion", continues to build the firm’s presence in CMBS, - Legal 500 2015.
- Ranked as "up and coming"; "he brings significant experience of advising on CMBS transactions". - Chambers UK 2014.