DAC Beachcroft loses Madrid real estate partner to Herbies

Herbert Smith Freehills (HSF) has brought the number of real estate partners in its Madrid office to three with the addition of Javier Ortega de la Peña from DAC Beachcroft (DACB).

The hire follows earlier moves to bulk up in Europe with the addition of SJ Berwin’s German real estate head, Hans Kessler, who joined as a partner in Frankfurt along with two senior associates and two of counsels last year (2 July 2013).

The firm opened offices in Berlin and Frankfurt in its first move into the German market in April (2 April 2013).

HSF UK and EMEA head of real estate Donald Rowlands said in a statement: “Having recently launched our Germany practice, Javier’s recruitment will help to further strengthen and develop our pan European real estate capabilities.”

HSF Madrid senior partner Álvaro Sainz said Ortega’s appointment “comes at a time when we have seen a significant increase in activity in the real estate sector in Spain”.

Clyde & Co took nine partners from DACB to launch its Madrid office last year (16 April 2013). DACB’s Madrid office now has 67 lawyers and staff, 11 of which are partners.

DACB Madrid managing partner Enrique Gich said: ”DAC Beachcroft remains absolutely committed to investing in the development of our full-service Spanish office and continuing to create a Latin American platform.” 

At the end of last week HSF’s latest LLP accounts revealed its bank overdraft rose from £26m to £62.7m last year while total bank borrowings grew by more than £30m (24 January 2014).