The Legal 500

Allen & Overy LLP’s ‘excellent’ real estate department is particularly strong in real estate finance, and recently advised Bank of Scotland on the restructuring of a €635m senior facility and a €65m mezzanine facility granted to Industrial Securities Group. Primark, Deutsche Bank and Morgan Stanley are also clients. ‘Solutions-driven’ practice head Daniel Gillet represents a number of banks and investment funds.

‘Clearly at the top’, Baker & McKenzie recently acted for Datalouise on the transfer of all real estate rights pertaining to part of a building on Avenue Louise to a group of private investors. Practice head Dominique Lechien is ‘one of the very best in continental Europe, with an unrivalled talent for negotiation’. Clients also ‘really enjoy working with’ Rudy Dupont, ‘not only for his skills, but also for his personality’.

Clifford Chance advises on corporate real estate and tax matters, and recently advised a consortium, led by Goodman Group, on a €1.8bn bid to acquire 100% of the ASX-listed ING Industrial Fund. Other clients include Allianz, KBC and Union Investment Real Estate GmbH. Practice head Henri d’Ursel is ‘very knowledgeable and well liked’, and Thierry Blockerye is also recommended for real estate tax issues.

DLA Piper fields a ‘very good’ team, which advises a broad client base including international investors, local clients and public institutions. Recent work highlights include advising ING Real Estate Development NV on selling its project development portfolio to a Belgian REIT. Department head Dirk Caestecker is ‘one of the leading real estate lawyers in Belgium’, and newly elected partner Jim Bauwens is also a ‘high-level professional’.

Liedekerke Wolters Waelbroeck Kirkpatrick’s real estate practice delivers ‘top-level service’, and can draw on the firm’s tax, corporate and litigation departments as necessary. The team recently assisted Befimmo on the €51m turnkey sale of a large Brussels office building to Vivaqua, which was one of the largest single asset transactions in Belgium in 2010. Practice head Yves Delacroix is ‘a real specialist’, and ‘one of the best in Belgium’.

Linklaters impresses with its ‘very good knowledge of the market’, and is particularly recommended for very complex real estate issues. It has strengths in project finance and PPP, and is assisting BNP Paribas Fortis and AG Real Estate on the structuring and negotiation of the €1.75bn Flemish school infrastructure project, which involves building around 180 new schools and refurbishing 30 more. In 2011, Yves Moreau was promoted to global head of real estate; he has extensive experience and the ‘ability to adapt solutions to weighty problems’.

Lydian is ‘fast to respond and very accurate in its work and advice’, and ‘not only the department as a whole but each individual lawyer shows great industry knowledge’. The team advised BNP Paribas Fortis on aspects of the sale of the Cluster Chambon, one of the largest office buildings in central Brussels, and is advising Cofinimmo on several PPPs. The reliable Wouter Neven is ‘pragmatic and a real dealmaker’.

NautaDutilh’s ‘results-driven and trustworthy’ real estate group is led by Didier De Vliegher, who focuses on finance-related transactions and PPPs. The team acted for AG Real Estate on the successful takeover bid and counter-offer for the economic rights to a large shopping centre in Brussels; and BAM PPP België on a project relating to two federal prisons in Flanders.

Stibbe has strong expertise in PPP work, where the group is acting for The Belgian Buildings Agency on aspects of the €395m PFI prisons programme, involving the construction of four new prison compounds. It also reported a significant increase in retail sector instructions. Practice head Rudy Nauwelaerts is the Belgium real estate specialist: he is ‘a fine negotiator, both knowledgeable and pragmatic.’

Altius (in co-operation with Tiberghien) acted for Eurostation and the Belgian railways on the sale of a large, fully pre-let office development near Bruges train station. ING Real Estate, Delhaize and Wyeth are also clients. Practice head Lieven Peeters and William Timmermans are recommended.

Ashurst LLP’s ‘expert’ team recently advised Esprit on negotiating leases for retail space in key shopping centres across Belgium. Counsel David Du Pont has ‘very good knowledge of the market’, managing partner Carl Meyntjens is also highly regarded, and Arnaud Wtterwulghe is recommended for real estate finance.

CMS DeBacker’s ‘whole team is very proactive’, and ‘understands its clients’ businesses and imperatives’. The group recently advised KBC and ING on financing a €120m property investment by Banimmo. Pierre-Axel Chabot has ‘excellent industry knowledge and gives concise to-the-point advice’, and practice head Bruno Duquesne is also recommended.

Freshfields Bruckhaus Deringer’s property specialists work closely with the firm’s corporate and finance teams, and represent clients such as Motel One, BAM PPP and Henderson Global Investors. The team recently advised Disney on the lease of a historic building in Antwerp. Charles-Antoine Leunen and Vincent Macq are the key contacts.

Laga’s real estate group brings together lawyers from the corporate, finance, environment and public law departments. It recently advised Pylos on the structuring of real estate investments through the establishment of a publicly listed real estate fund. Highly regarded banking and finance partner Werner Van Lembergen is the key figure, and Stefaan Van Dyck was promoted to counsel in 2011.

Loyens & Loeff’s responsive, knowledgeable and accurate team is adept at handling real estate transactions. It advised AG Real Estate on buying from Redevco a logistics complex, which was pre-let to Carrefour. Practice head Christophe Laurent ‘remains poised and tries to find feasible solutions’.

Marx, Van Ranst, Vermeersch & Partners handles a range of real estate transactions, while maintaining a focus on industrial and retail properties. Clients include Aldi, Thornsett and Belgian Shell, as well as various domestic and foreign public bodies. Stefaan Verbouwe is the main contact.

Simont Braun’s real estate, construction and administrative law department is led by Manuela Von Kuegelgen, who ‘always has practical insight, and access to the main players in the Brussels real estate market’. Michèle Borgers and Béatrice Thieffry are also recommended. The department’s clients include REITs, public institutions and insurance companies.