The Legal 500

With three specialist groups, Castrén & Snellman fields one of the largest and focused teams in the market. Head of transactions Anu Tuomola ‘understands the commercial goals of negotiations’ and together with Uwe Uusitalo, head of international construction and projects, and head of real estate and environment Matias Wallgren, provides an integrated service that is ‘definitely one of the best’. The firm acted for Kesko on the €156m sale and lease-back of 13 retail estates to Varma Mutual Pension Insurance Company, the largest deal of 2009.

Hannes Snellman Attorneys at Law Ltd brings both broad experience and impressive resources to the table, with no less than six high-profile partners that include practice head Nicolas Berner who is ‘great at everything’ and Juha Lindström, who is ‘excellent at providing added value’. Clients are largely foreign investors, such as Veritas Pension Insurance Company, recently advising it on the sale of multiple residential buildings. Alexander Bargum left the firm.

Despite a bleak period for international real estate deals, Roschier’s experienced practice is hard to beat – ‘best for large, complicated transactions’, say clients. Team leader Mika Alanko is praised for all-round skill in acquisitions, environmental law and fund documentation. Matters include significant asset sales of the office and retail portfolio of ANL Kiinteistöt 1 KY, a property fund managed by Amplion Asset Management.

Even rivals praise the practice at White & Case, which features in the majority of headline real estate acquisitions and financings in Finland and cross-border transactions. They included the ANL Kiinteistöt 1 KY deal, acting for Nordea Bank, and representing Helsinki University Real Estates on the refinancing to transfer its multimillion-euro campus portfolio. Timo Airisto is ‘very skilled and experienced’ and enjoys strong support from Tanja Törnkvist.

Bird & Bird Attorneys Ltd advises a quality client base on major developments, transactions and disputes, utilizing the skills of litigators Pekka Raatikainen and Marko Wainio under the direction of real estate practice head Jaako Hietala. The firm advised Nordic Real Estate Partners on the disposal of a ten-property portfolio to AB Sagax for €34m.

Attorneys at law Borenius & Kemppinen Ltd has a large, versatile team, where instructions range from litigation on behalf of a Finnish government agency against a multinational construction company, to acting for ICECAPITAL Housing Fund II on the redevelopment of Helsinki’s Myllypro shopping centre. Christian Fogelholm is head of real estate transactions, with senior advisor Veli Leinonen in charge of construction and real estate, including litigation.

Counsel Antti Aaltonen heads the impressive practice at Dittmar & Indrenius, which provides regular property and transactional advice to the likes of Ikea and McDonald’s. Clients rate the firm’s industry knowledge, good response times and high-quality advice. ‘We have every confidence in Raija-Leena Ojanen’, says one such client.

Hammarström Puhakka Partners, Attorneys Ltd launched a separate real estate practice in 2010 to accompany its market-leading environmental team, creating a large and versatile specialist group. Top environmental lawyer Kari Marttinen led advice to Fennovoima concerning the preparation of a new-build nuclear reactor in Finland. Neste Oil is a regular client.

A strong team at Krogerus, namely Samuli Palin, Juha Wessman, Ville Hailikari and a large team of associates, attracts an impressive array of international investors, developers and domestic property companies. They include Skanska Commercial Development Finland, which the firm advised on the sale of Lintulahti office building to Commerz Real Investment for €38.4m.

Merilampi welcomed the established construction law team of Veikko Palotie & Co following the firms’ merger, resulting in a versatile practice that also includes transaction and dispute specialists led by Teemu Kauttu. The firm acted for Sippoonranta, owned by Skanska and other investors, in a 300-property development project amid much publicity.

Waselius & Wist acts for domestic and foreign property owners, developers and construction companies, as well as financiers, forming a broad practice led by Niklas Thibblin. The firm is advising Norwegian Property on its pending NOK8.3bn divestment of shares in Norgani Hotels to Pandox.

Arbitrator and real estate practitioner Eero Kajander at HH Partners, Attorneys-at-Law, Ltd has a steady practice, advising on smaller-range deals and higher-profile disputes, including advice to a Czech construction company on a consortium arrangement and public procurement tender.

Attorneys-At-Law Juridia Ltd handled several quality matters in 2010, bucking the market trend. It advised on the construction agreements for multiple residential buildings planned for the Kalasatama area of Helsinki. Ilkka Koivisto is lead partner for much of the work and together with Hannu Rintala, is praised for ‘knowledge of a high level’ and ‘very quick response time’.

Of note is Law Firm Lindblad Ltd’s experience in advising Finnish companies with Russian connections in the real estate arena. Clients single out Onni Hietalahti for his experience in Russian trade, while Harri Skopa heads the real estate practice overall.

Niche firm Mäkitalo Rantanen & Co Ltd is focused on construction and real estate development, advising on complex projects such as a €157m waste gasification power plant construction, acting for Lahti Energia. The firm is regular advisor to the real estate unit of Finland’s Ministry for Foreign Affairs. Juha Mäkitalo ‘has an extremely good understanding of the real estate and construction business’ and a ‘statesmanlike presence’.