The Legal 500

Bonelli Erede Pappalardo’s ‘consistently impressive’ real estate group pools the expertise of 12 partners from its administrative, banking and finance, corporate/M&A, and tax departments, and is co-ordinated by ‘superb lawyer’ Alessandro Balp. It represented Prelios in the headline €470m sale of the La Rinascente department store in Milan.

Chiomenti Studio Legale’s ‘helpful, quick and accurate’ team advised a corporate vehicle, and its main investors, on the proposed €1.2bn acquisition of Milano Santa Giulia and Milano Santa Giulia Residenze, which own a major real estate complex in Milan. The practice also acted for Pirelli & C. Real Estate’s Fondo Progetti Residenza on the €62.5m sale of a plot of land in Milan. Department head Francesco Tedeschini and Umberto Borzi are recommended.

Clifford Chance’s recent highlights include advising Central Department Store on its acquisition of Italian luxury retail chain La Rinascente. The team also advised Carrefour on the potential acquisition of a group of companies that own two commercial malls in northern Italy. Paolo Rulli is well respected.

DLA Piper advised Fondo Cornero on the sale and leaseback of Banca Marche’s real estate portfolio, and acted for Hines regarding a mixed-use development. Beni Stabili is also a client. EMEA practice leader Olaf Schmidt is recommended, as is Guido Inzaghi for town planning matters, and Francesco Sanna for development and construction work. Former Italy practice head Davide Apollo departed.

Freshfields Bruckhaus Deringer advised Crédit Agricole on the lease of its new headquarters in Milan, and acted for Inter Ikea Centre Italia on the development of a shopping centre. The practice also assists with real estate finance and litigation. Marzio Longo provides ‘high-quality service levels, including daily availability’.

Gianni, Origoni, Grippo, Cappelli & Partners is ‘excellent at understanding clients’ needs’. It advised government-controlled pension fund Cassa Nazionale di Previdenza dei Ragionieri on the disposal of its real estate assets, and Hines Italia on its acquisition of Prima SGR Real Estate Funds. Team head Domenico Tulli is much appreciated by clients, Davide Braghini is ‘pragmatic and personally available’, and Maria Grazia Lanero, Daniel Vonrufs, and Andrea Marani are also recommended.

Hogan Lovells Studio Legale’s ‘professionals know the real estate market and business’. The team advised Segro, an industrial REIT, on negotiations with Alcatel for a bespoke construction and lease agreement. Marco Rota Candiani ‘inspires confidence’.

Jones Day welcomed associate Pietro Toniolo from DLA Piper. The group advised on the tax structuring and sale of a shopping centre. Giovanni Marini co-heads the team with Matteo Troni, who is ‘dedicated to getting the best deal for the client’.

Labruna Mazziotti Segni advised banking group Mediolanum on its acquisition of a shopping mall in Parma. Pirelli Group is also a client. Group head Emanuela Molinaro is ‘outstanding’.

Legance Studio Legale Associato is praised for its ‘quality advice and team support’. The practice advised Generali Properties on its acquisition of Immobiliare Milano’s entire stake in Citylife, and also assisted Fondi Immobiliari Italiani with obtaining a financing facility to acquire multiplex sites. Giovanni Nardulli is ‘effective in complex negotiations’, Alberto Giampieri is ‘highly competent’, and Bruno Bartocci, Filippo Troisi, Andrea Giannelli and Giandomenico Ciaramella are also key contacts.

Lombardi Molinari e Associati’s ‘non-speculative culture leads to useful, strategic advice’. It advised Risanamento on the €1.2bn sale of the Santa Giulia area, and Galotti on divesting its interests in a closed-end real estate fund owning three office buildings in Milan. Patron Capital is also a client.

NCTM Studio Legale Associato’s ‘negotiating skills help to mitigate controversial issues’. The practice represented Allianz Insurance on the prospective acquisition of units issued by BNP Paribas REIM’s closed-end real estate investment fund Venti M, and assisted Efibanca with the real estate, planning and zoning issues concerning the financing of a marina in Tuscany. Department head Luigi Croce has ‘long and recognised experience’, and Stefano Padovani and Antonio Tola are also key contacts. Riccardo Delli Santi left the firm in July 2011, with plans to launch a virtual network of real estate legal services.

Allen & Overy – Studio Legale Associato ‘understands industry practice’. The team advised Prelios and Morgan Stanley Real Estate Fund on restructuring €270m of real estate financing provided to Lupicaia Sarl, secured by a pool of over 100 Italian commercial and residential properties.

Bird & Bird advises real estate investment funds and asset managers. It has also gained experience in traditional real estate matters, including acquisitions, disposals, leases, property management, and project development.

Carnelutti Studio Legale Associato acted for BNP Paribas REIM on Immobiliare Dinamico’s purchase of land and a building for logistics activities in Trezzo sull’Adda. Benedetta Amisano is recommended.

De Berti Jacchia Franchini Forlani advised private clients – mainly from the US, UK, Scandinavia and Russia – on the financing and sale or purchase of Italian real estate. Gianni Forlani is the principal contact.

d’Urso Gatti e Bianchi Studio Legale Associato advised Grande Jolly on selling a real estate complex in Turin, and Hines Italia on the transfer of a real estate complex in Milan. Andrea Giardino and Stefano Valerio are the key contacts.

Latham & Watkins LLP recently represented Orion Capital Managers in acquiring from Foruminvest a 50% stake in the Mongolfiera Molfetta shopping centre near Bari.

Norton Rose Studio Legale advised Banca Nazionale del Lavoro as sole arranger and lender of the debt package supporting the creation of Fondo Immobiliare – Comune di Milano I, established to maximise a portfolio of 65 properties owned by the Municipality of Milan. Nicolò Juvara and Mario Lisanti are recommended.

Paul Hastings LLP’s Alberto Del Din is ‘exceptionally good’, and Alessandro Stoppa is ‘not only experienced but also extremely knowledgeable’. The team advised Patron Capital on the acquisition of a property in Venice.

SLA Osborne Clarke (Member of the Osborne Clarke Alliance) acted for a client on the €100m acquisition of a real estate complex in Milan, and also represents Cattolica Immobiliare. Milan-based Daniele Zanni is ‘effective’, and Brescia-based Sara Miglioli has ‘an excellent grasp of real estate matters’.