The Legal 500

CMS Reich-Rohrwig Hainz Branch Office Zagreb’s market-leading position is due to its experience in the core areas of tourism, shopping centres, and commercial retail and real estate-financing. The ten-strong dedicated team, headed by Gregor Famira, benefits from its growing specialist tax advice capability, adding value for clients such as Falkensteiner Michaeler Tourism Group and MID Group in the structuring and restructuring of real estate and hotel projects and tax litigation. The group acts in all the headline real estate developments – Landmark Property Management instructed it on one of Croatia’s largest tourism developments – the €250m Korenat Point resort; and M2 on the ongoing €180m Supernova shopping centre.

American investment fund WP Carey instructed Divjak, Topic & Bahtijarevic on the largest investment in logistics facilities in Croatia in recent years, and followed this with further instructions on real estate developments. In common with many firms, Emir Bahtijarevic’s team saw some changes in personnel but continues to advise clients in the retail, tourism and logistics sectors on the intricacies of Croatia’s evolving property law and the financing of development projects.

Sanja Porobija at 14-lawyer Porobija & Porobija comes highly recommended. She has recently advised on a variety of standalone and transactional real estate issues, including retailer Condor Real in relation to lease agreements for retail outlets, and an international investor on the purchase of agricultural land. Disputes over land are also a feature – Porobija is engaged on four litigious matters on behalf of a Greek real estate fund and Croatian contractors and corporates.

Savoric & Partners stands out for its experience in the leisure and tourism sectors, acting for Hidrocommerce and Jupiter Fund on the Sun Gardens project and development of tourism accommodation on the Dubrovnik coast. Its prowess in land purchase and development is attested to by its retainer as sole adviser to IKEA for the acquisition of land for retail development, and by Pirelli RE in the acquisition of a hotel and tourism organization. Financing of acquisitions falls under Boris Savoric’s remit, while Helena Sjaus leads the real estate and litigation group focusing on property transactions and contentious matters.

The combination of real estate specialist Mirko Bogdanovic and corporate finance expert Tin Dolicki at Bogdanovic, Dolicki & Partners results in a formidable team for the financing of assets with real estate or property aspects such as the wind farm constructions which have recently been a feature of the practice.

The real estate group at Law Firm Glinska & Miskovic Ltd, headed by Beata Glinska, is strong on finance leasing structures and regularly acts for financiers, developers and corporates acquiring or expanding property interests. Long-standing client Immorent Leasing is advised on all its real estate issues from security documents to regulatory matters.

2010 saw Wolf Theiss – Zagreb branch real estate associate Silvije Cvetko very busy, with instructions including the financing of new shopping centre projects in Zagreb, Split and Rijeka; advising an Austrian real estate fund on its real estate acquisitions, including providing Konzum, the largest Croatian retailer, with all of its significant store locations; and advising Signa Osam Immobilien on its acquisition of the Hoto Business Tower from Hypo Alpe-Adria-Immobilien. ‘A high level of flexibility and creativity’ was required when assisting a foreign investor in the first purchase of forest land by a non-Croatian.

A highlight of 2010 for Zuric i Partneri was advising on a 25-hectare tourism development in Hvar for a foreign developer. The team continues to work on the Royal Golf Park in Dubrovnik, and received new instructions relating to another golf park in central Croatia.

Babic & Partners Law Firm advised a multinational corporation on financing arrangements for construction and development of various tourism and leisure facilities on the Croatian coast valued at €60m. The profile of the instructions handled by Marija Gregoric tends towards property financings.

Due diligence in relation to investments in real estate is a feature of Law Office Boric’s practice. The firm has experience in the tourism and retail sectors.

Kruno Knezevic heads Hanzekovic & Partners’ team, which advises on all aspects of real estate transactions from the acquisition of land and property companies for foreign investors to the negotiation and drafting of documents and obtaining of permits and licences.

Ivekovic Law Offices majors in real estate matters from the financing of investments in property and land for foreign investment groups, to the restitution of property for private owners. The firm acted for Dayland Group and Incrementum on the development of greenfield sites for retail and industrial purposes.

European investors instruct Juric & Vrbanovic LLP on the M&A structuring of real estate acquisitions in the business, residential and tourism sectors.

Kunstek, Halle & Simac recently acted as adviser to Hungarian investors on the purchase of Croatian hotel and leisure amenities; and to Croatian sellers of a €48m 80-hectare development site on the island of Pag to a Slovenian investment fund.

Law Offices Macesic & Partners predominantly acts for banks on the financing of real estate developments in Rijeka and the Istrian Peninsular, and in disputes arising with investors over the funding of property and land. In 2010, the office was engaged by Raiffeisen Bank Austria to provide legal assistance ranging from litigation to legal opinions in relation to five different real estate investments.

In addition to continuing referrals from existing Croatian real estate development and construction companies, Madirazza & Partners gained a new Austrian real estate developer as a client in 2010. Instructions included research and due diligence on investment possibities for a tourism project in Dalmatia and examining issues of ownership, maritime domain, zoning and planning, building permits and specific regulations affecting condominiums.

Schoenherr Rechtsanwälte GmbH in co-operation with Croatian Lawyers is instructed by Lidl on the acquisition of sites for retail development, and assists its Austrian and CEE clients with the real estate and property aspects of business sales and mergers. Michael Lagler oversees the practice from Vienna, and associate Jana Cvirn is on the ground in Zagreb.

Law Firm Simunovic & Batur conducted the requisite due diligence and structuring for the acquisition and construction of tourist resorts in Dalmatia on behalf of investment funds and consortia from Turkey, USA, Canada and Australia. Stella Simunovic and Maja Batur are ‘both well experienced in corporate law, tax, due diligence and real estate issues’, while the group is ‘small enough to be dedicated – service for such a price is above the market level’.

From advising Austrian investors attempting to overcome zoning regulations to selling real estate previously purchased for the development of industrial zones, Vukmir & Associates has experienced the full range of transactions and recently advised Russian buyers on the purchase of agricultural land.