Packer’s move is a blow to Dechert, as his property finance focus is in line with the firm’s own real estate strategy. However, it has gained its first finance and real estate lawyer in Germany, with Lovells senior associate Oliver Platt joining the Frankfurt office.
Eversheds is also keen to tap the property finance market, and Packer will play a key role in the firm’s bid to create an effective real estate finance team by bringing together real estate and banking specialists.
“In London we haven’t had a standalone team, so we’re increasing our capability,” said real estate head Cornelius Medvei. The firm already acts for banks such as HBOS, Royal Bank of Scotland and HSBC, but will be aiming to secure larger structured finance deals across the board.