The Legal 500

Clifford Chance is ‘widely perceived to be very high quality’. Recent highlights include advising Bankia on the prospective sale-and-leaseback of a portfolio of 467 bank branches in Spain; assisting Unibail-Rodamco with its acquisition of Splau! shopping mall in Barcelona; and advising TPG Credit on its acquisition of a portfolio of real estate and non-performing loans (NPL) from an international fund. Alfonso Benavides is ‘a real star in the industry’, and Carlos Portocarrero is ‘a strong driving force of the team’.

Freshfields Bruckhaus Deringer has ‘the full package in a way that few firms can match’. Juan Gómez-Acebo is the sole partner, but this compact team ‘deserves nothing but praise for its consistently high-quality performance’. Gómez-Acebo is ‘one of the most gifted real estate lawyers in Europe’, and of counsel Fernando Soto is ‘technically very good and very insightful’; clients ‘trust his judgement and advice completely’. Recent instructions came from RREEF, Goldman Sachs, Primark Tiendas, and new client Costco.

Garrigues is ‘traditionally a very strong player in this field’. It recently advised the FCC on the €60m sale-and-leaseback of its headquarters in Madrid and Barcelona, and also advised it on the sale of the Torre Picasso office building in Madrid to Pontegadea Inmobiliari. Other highlights included advising LSGIE on its €58m acquisition of Plaza de la Moraleja shopping mall. Felipe Yannone is recommended.

Gómez-Acebo & Pombo Abogados has ‘very good knowledge of real estate and planning regulations’, and its work is ‘always of high technical quality’. Highlights included advising Invesco Real Estate on the €39m purchase of a building in Madrid. The key real estate contacts are Iván Azinovic and Alfonso Fernández-Puebla, who are ‘very commercial and pragmatic’. Luis Jiménez-Díaz leads the planning team, which acts for clients such as the Council of Alcobendas.

Uría Menéndez has ‘excellent planning lawyers’, and is ‘highly respected in the market’. The team advised PSP on a joint venture agreement to acquire Prisa’s headquarters, assisted Perella Weinberg with the acquisition of a portfolio of distressed commercial real estate debt, and acted for key client Banco Santander on the purchase of real estate assets in Spain and France in exchange for the cancellation of debts. Ignacio Albiñana and Fernando Azofra jointly head the practice, which also includes the ‘very commercial’ Diego Armero.

Ashurst LLP’s team ‘always proves its worth in difficult cases’, and is ‘doing very well’. Highlights included advising key client Hines on two separate deals involving the sale of three office buildings in Madrid. It also provides ongoing advice to L’Oréal regarding the lease agreement for its Spanish headquarters. Clients on the restructuring side include RBS. Cristina Calvo is ‘excellent’; she and her team are ‘reliable and professional’. Ismael Fernández Antón is also recommended.

Cuatrecasas, Gonçalves Pereira’s 35-partner group advised key client H&M on some 30,000sq m of premises, worth approximately €134m, in addition to handling disputes over lease agreements. It also assisted Aareal Bank with a €120m mortgage loan for the Plaza Norte 2 shopping centre in Madrid. On the refinancing side, it advised ING Real Estate Finance on Metrovacesa’s €4bn debt. Fernando Bernad, Cristóbal Cotta and practice head Gerard Hernández are recommended.

Linklaters’ team is ‘consistently pragmatic’ and ‘takes the lead in negotiations, achieving a good outcome’, and is ‘well worth the money’ and ‘effectively available 24/7’. Clients include GLL Real Estate, which the firm recently advised on the financing of the acquisition of two logistic warehouses in Toledo. On the distressed debt side, it advised Lone Star on Banco Santander’s €300m residential NPL and real estate portfolio. The ‘very tenacious’ Rafael Molina heads the practice. Jesús Varela and two associates joined Salans in 2011.

Perez-Llorca has ‘a very good quality team’ with ‘excellent lawyers’. It recently advised Telefónica on the €45m deal to transfer 500 mobile telephone masts to Abertis; BNP Paribas on its €200m acquisition of the Nueva Condomina shopping centre, part of the debt restructuring of Nueva Condomina Group; and BNP Paribas on purchasing a shopping centre and retail park in Murcia from British Land. The team regularly provides restructuring advice to clients such as Barclays and La Caixa, and also has planning expertise. Luis Zurera and Gerard Serra lead the teams in Madrid and Barcelona, respectively.

The ‘service exceeds expectations’ at DLA Piper LLP, where the lawyers ‘fully engage in each case and demonstrate a high level of willingness to go that bit further’. It has advised Barclays on several debt-asset swap transactions to restructure its residential and commercial distressed mortgage portfolio, and is acting for Investec in negotiations with the borrower (Proactiva) and senior lenders (Banco Santander, BBVA and Bankia) for a mezzanine financing in Barcelona. Orson Alcocer is ‘a very clever and aware lawyer, as well as a good negotiator who tries to find innovative solutions’. Legal director Inés Chamarro ‘checks every detail on a document meticulously’, and has ‘an encyclopaedic knowledge of law’.

Hogan Lovells International LLP has ‘loyal clients and is very well recognised’ for its ‘valuable experience’. Clients include Codic, which it recently advised on the development of a new office building in Madrid. It also advised fund Rockspring on structuring investments and on the financing of its acquisition of a retail park in Toledo. Practice head Emilio Gómez is ‘flexible and hardworking’.

Baker & McKenzie is recommended for its ‘outstanding performance’ and ‘experience and track record’. Highlights included assisting Roberto Cavalli with negotiating a lease agreement for its first store in Spain. Jesús Conde ‘anticipates the next steps in order to get solutions and objectives established in advance’.

Broseta Abogados acted for the buyer on the €400m acquisition of the Torre Picasso tower in Madrid, and advised Eurofund Investments on the Port Ademuz project, which is aimed at creating the largest retail and leisure park in Europe. Isidro del Moral is the key contact.

DAC Beachcroft LLP provides ‘competent and professional service’, and recently advised Union Investment on the €29m forward purchase acquisition of a large warehouse. Practice head Javier Ortega is ‘client-minded, proactive and reactive’, and has ‘excellent knowledge’.

Dentons’ team is ‘very easy to work with and always accessible’, and has grown its presence by recruiting Jesús Varela from Linklaters; ‘without doubt, he is one of the best lawyers in this field’. The team advised Pramerica on the €47m sale of its office building to Invesco.

Lupicinio Abogados International Attorneys’ recent mandates include acting for IVG Institutional Funds on the renewal and renegotiation of a lease agreement with Lloyds Bank International for a building in Madrid. Ángel Lavín is recommended.

Ramón y Cajal Abogados recently advised BBVA on the acquisition of a hotel and spa resort as part of a restructuring mandate. Francisco Bengoetxea is ‘an excellent urban planning and administrative law specialist’, and Jaime Díaz de Bustamante is also recommended.

SJ Berwin’s team is ‘accessible’ and ‘very dedicated to the client’. It has been advising on various refinancings, sale or purchase agreements, and acquisitions for clients such as Bouygues Inmobiliaria and Area Property Partners. Enrique Isla provides ‘quick and reliable responses’.

Ventura Garcés & López-Ibor, Abogados recently advised Inversiones Promovalor on the construction of 64 apartments and offices in Warsaw. The team includes Ricard Gené in Barcelona and Alfonso Lopez Ibor in Madrid.