The Legal 500

‘One of the best’ for real estate, Baker & McKenzie fields an experienced team across Beijing and Shanghai, working in conjunction with the Hong Kong office. It has considerable expertise in mixed-use development projects including emerging class of assets such as hotel and tourism and theme parks, and specialises in acquisitions, dispositions and exchanges, real estate financing and mortgage-backed securities among others. The firm is advising Disney on its joint venture with the Shanghai Shendi Group for the planned development of the Shanghai Disneyland theme park. Other recent highlights include advising CapitaLand on its acquisition of additional shareholding interests in a BVI-incorporated company, which in turn holds interests in properties in Panyu, Guangzhou and China. And it acted for Shanghai Jin Jiang International Hotels on the RMB2.7bn acquisition of controlling stakes in two companies listed in the PRC from its parent company Jin Jiang International. The Shanghai team includes Michelle Gon.

The five-partner team at Hogan Lovells International LLP is among the largest in China, and its strong reputation has ensured a steady flow of blue-chip international and local clients. It frequently acts for real estate developers, operators and funds, as well as advising retailers and industrial companies on real estate matters. The team recently advised Kingdom Hotel Investments on the sale of Swissôtel Kunshan in China to TA Global Bhd for $60.75m. Anschutz Entertainment Group (AEG) is a key client; recent instructions from the group include negotiating the first major arena naming rights deal in China and setting up a joint venture with the Shanghai Oriental Pearl Group to manage the Mercedes-Benz Arena. The practice is led by Andrew McGinty in Shanghai. Also recommended are Steven Robinson, who divides his time between Shanghai and Beijing, and Jun Wei in Beijing.

Key to Mayer Brown JSM’s excellent reputation is the ‘responsive, commercial and accurate’ service it provides. It is ‘strong in the conveyancing area’, and lead partner Billy Ho, based in Shanghai, ‘has a good understanding of customer needs and works effectively to meet their satisfaction’. The firm has been instructed by Swire Properties in relation to a joint venture with Sino-Ocean development, which will comprise a shopping centre, hotel, apartments and an office tower. It is also advising Sun Hung Kai Properties on its joint venture development Lake Dragon Project in Guangzhou, comprising apartments integrated with a golf course. It is also working with the client on the Liedecun Project, an integrated complex that includes a shopping mall, offices, a hotel and apartments.

Paul Hastings LLP LLP’s practice includes highly respected practitioners Joel Rothstein and David Blumenfeld. While it continues to be a key player in the market, it recently suffered a blow when two key partners, Alex Wang and Mitchell Dudek, defected to SNR Denton. It has been active in capital markets in the real estate sector, advising a number of leading property companies in relation to IPOs, high-yield bonds and convertible bonds and other offerings. Instructions have come from various financial institutions and borrowers in secured real estate finance transactions, many of which were innovative multi-currency syndicated facilities. China-based companies CITIC, Carlyle, Deutsche Bank, Morgan Stanley, Sino Ocean Land and Treasury Capital Trust are all included on the firm’s client roster.

Allen & Overy LLP is ‘totally dedicated to great service’ and provides the full spectrum of real estate advice, including financing, M&A, pre-IPO structuring, fund structuring and REITS. Recent highlights include advising WP on its proposed acquisition of an interest in commercial real estate projects developed by CentraLand. The collaboration involved share swaps, warrants and compliance with PRC laws and regulations in relation to the development, construction, operation and management of several large commercial real estate projects in China. Shanghai-based practice head Richard Kim is ‘an excellent advisor’. The Shanghai office also includes Ji Zou, while Matthias Voss, Victor Ho and Yvonne Ho are key figures in Beijing.

DLA Piper’s integrated China and Hong Kong practice includes Kit Kwok in Shanghai, who has been instrumental in the group’s work for key client Tesco. The firm has been advising it on all its real estate acquisition work in China including Project Trolley II, where foreign investors invest alongside Tesco in several of its acquisitions and/or developments. It includes a joint venture to develop shopping malls in China, where 50% will be owned by a consortium of Asian investors, including Metro Holdings in Singapore, and will comprise three shopping malls, with Tesco as anchor tenant. Other key clients include Redevco and RDM gruppo Fingen. Susheela Rivers heads the practice from Hong Kong.

Operating out of Hong Kong, Deacons represents a number of leading property development companies on acquisition and disposal of development projects in PRC as well as cooperative arrangements in relation to land development, leasing, tender and redevelopment work. Recent work includes advising a China real estate developer on the acquisition of two BVI target companies, and advising a leading global energy company in the RMB11m acquisition of the land use rights to a 67,000sq m piece of land in Chongqing. It is also assisting developers in several joint venture development projects in Chagsda and at a golf course in Southeast Asia, including due diligence and drafting documentation. Franki Cheung heads the China practice group and is chief representative of the Beijing office.

Gide Loyrette Nouel A.A.R.P.I.’s Shanghai office is advising Shanghai LuxChina Property Development Company on a 72,000sq m commercial and office mixed real estate development project in Shanghai. This involves assisting it on corporate structuring, drafting of shareholders agreements, corporate formalities, land bidding processes, negotiations with land authorities and construction matters. David Boitout divides his time between Paris and Shanghai and has a strong focus on emerging markets transactions. Antoine de la Gatinais in Shanghai, and Warren Hua and Zheng Yu in Beijing are recommended.

At Mallesons Stephen Jaques, the mainland China team assists clients in due diligence relating to title to properties and advises on residential and commercial property-backed securities involving funds holding properties in China. Other advice includes acquiring and leasing commercial and industrial properties. The combined China and Hong Kong group is recognised for its experience of real estate funds management, wholesale property funds and REITS. Clients include Altus Page Kirkland, who instructed the firm on a commercial dispute with a former employee. It is also acting for China Overseas Grand Oceans in its acquisition of the remaining stake in Pan China Land Group for approximately HK$1.2bn. Key partners include Nicolas Groffman in Beijing and Martyn Huckerby in Shanghai.

One of Morrison & Foerster’s key clients is Prologis (formerly known as AMB Property). It recently advised on the spin-out and contribution of Prologis’ China assets to the recently launched $1.1bn AMB China Logistics Venture. It also acted for National Semiconductor in the sale of its manufacturing plant in Suzhou, which has an asset sale value of RMB177m. The firm advised Harima Chemicals on the restructuring of contractual arrangements relating to its reorganisation and use of manufacturing facilities in China. Paul McKenzie, office managing partner in Beijing, specialises in corporate transactions and regulatory compliance matters. Also recommended is Shanghai-based Gregory Tan, who was instrumental in the Prologis joint venture.

Orrick, Herrington & Sutcliffe LLP’s practice is integrated within its finance group, and counts Standard Chartered Bank among its key clients. Recent instructions from the bank include a major financing as well as the acquisition by Ascendas China Commercial Fund of Cross Tower, a major commercial real estate asset in Shanghai. Structured finance and securitisation transactions involving real estate assets is another strength; in 2010 the team advised the trustee and agents in relation to a $518m securitisation of Korean residential mortgage loans originated by Citibank Korea. James Tervo heads the Asia real estate group from Tokyo, while Hong Kong-based Michelle Taylor heads the China group.

Operating out of Singapore, Wong-Partnership LLP’s China practice is led by Joseph He Jun and Gerry Gan. Highlights included acting for Singbridge in a joint venture involving a capital contribution of RMB2bn, and representing China Investment Corporation in CIC’s acquisition of a 14.86% stake in Noble Group, a landmark investment by the PRC sovereign wealth fund. Further instructions included acting for Ascendas Real Estate Investment Trust (A-REIT) in its forward acquisition of a business property in Shanghai.

Based in Shanghai, Salans’ Wei Liu has substantial experience of real estate transactions including acquisition of land use rights, setting up foreign invested real estate enterprises and acquisition of real estate companies. Typical clients include developers and investors in China, the US and Germany.

Troutman Sanders LLP’s Edward Epstein is highly renowned; he is ‘good at spotting questionable business practices which will be issues for Western companies’ and his ‘pragmatic approach helps clients evaluate risk and solve issues’.