David Spencer

David is an associate in the Real Estate Industry group and a member of the Real Estate Finance and Restructuring practice at Goodwin, having joined the firm in 2025.

David advises on all aspects of UK and cross-border real estate finance transactions, including acquisition, investment and development financings, and has experience working with market participants across the entire capital stack.

David acts for a broad range of clients on both the lender and sponsor side, including debt funds, private equity firms, institutional investors, financial institutions, investment banks and developers.

David’s recent experience includes representing:

• A global alternative asset manager in connection with a c.£52m term loan facilities agreement provided by an investment management firm to refinance the acquisition and redevelopment of a prime West End office property in London
• A new European commercial real estate lending platform in connection with a working capital facility provided by one of its major shareholders, a global alternative asset manager
• A real estate debt investment platform in connection with a £400m, seven-year non-amortising back-leverage facilities agreement with a global investment bank to refinance underlying development and investment loans secured against UK commercial and residential real estate assets
• A US-based real estate investment firm in connection with a £39m senior loan facility made available to certain subsidiaries of a US alternative investment firm to finance the development and stabilisation of a logistics portfolio in the UK
• Invesco Real Estate in connection with a whole loan to Bridge to refinance its existing debt secured against a portfolio of logistics assets located across the UK
• North Wind Capital as arranger on the senior loan facility provided to Fenton Whelan to redevelop 17 Belgrave Square, London*
• MARK Capital Management as sponsor on the contribution of retail assets to a new partnership structure and concurrent corporate reorganization in relation to the Whiteleys development in London*
• MARK Capital Management as sponsor on the loan facility provided to it by Banco Popolare di Sondrio in relation to the Mareterra development in Monaco*
• A US global investment manager as lender on the refinancing of Team Valley Retail Park, Gateshead*
• A US global investment manager as lender on the £150,000,000 loan facility provided to one of the UK’s leading BTR operators to refinance the BTR development at Portlands Place, Stratford*
• Pogust Goodhead on the $552,500,000 credit facility provided to it by Gramercy Funds Management*
• A US global investment manager as sponsor on the £66,000,000 loan facility provided to it by Leumi Bank to refinance the acquisition of a portfolio of supermarkets in the UK*
• ICBC Standard Bank plc on its sub-participation in a UK multinational investment bank’s exposure to five equity margin loans*
• United Overseas Bank as lender on the £120,900,000 loan facility provided to a US global investment manager for the financing of the development of the Point Date Centre, Docklands, London*
• A US multinational investment bank in relation to a €141,800,000 senior loan and €24,300,000 mezzanine loan provided to Cerberus to finance the acquisition of a portfolio of logistics and industrial assets in Germany, the Netherlands and Spain*
• LaSalle Investment Management as mezzanine lender in relation to its consensual acquisition of a shopping centre in Scotland from the outgoing sponsor*
• A US global investment manager as arranger of a multi-currency development financing of a portfolio of logistics assets in the UK, Ireland and Spain*

*Denotes experience prior to joining Goodwin.

Prior to joining Goodwin in 2025, David was a senior associate with Morrison & Foerster in their Real Estate Finance team for three years. He originally trained at Linklaters LLP and qualified into their Corporate and Structured Lending team in March 2017.