Leading Individuals

Next Generation Partners

Real estate in Uruguay

Ferrere

Ferrere‘s ‘multidisciplinary, ultra professional’ real estate team, lauded as being ‘always up to date on laws and regulations’, is comfortably among the market’s strongest. The practice represents both investors and developers, handling bids, construction contracts, purchases and sales; the forestry, agribusiness and high-end residential sectors are its primary sources of work. The department operates from three offices: in addition to its main base in Montevideo, it assists agribusiness and forestry clients from Tacuarembó, and counsels Argentinian clients from Colonia. The ‘brilliant and practicalCarlos Falco leads the group and has specialities in real estate financing, agribusiness matters and real estate litigation. Diego Durán, who was promoted to of counsel in October 2022, is building a name for himself in agribusiness matters; he is highlighted for his ‘reliability, proactivity and clarity’. Senior associate Florencia Taboas is particularly active in the forestry sector, and associate Ana Laura Oliveros exhibits ‘excellent client focus and communication skills with strong legal analysis’, assisting with the full scope of matters handled by the practice.

Practice head(s):

Carlos Falco


Testimonials

‘Ferrere is one of the best firms in Uruguay and has a highly-trained team that is committed to customer service.’

‘Ferrere has a wonderful team spirit that shines through all of its departments. In the real estate department, they have the expertise required to handle the most complex matters.’

‘Carlos Falco is brilliant and practical lawyer with fabulous emotional intelligence, who is a true pleasure to deal with. He looks for client-focused solutions to complex legal issues, demystifying the legal terrain so that his clients can confidently follow his advice.’

‘Ana Laura Oliveros combines excellent client-focus and communication skills with strong legal analysis.’

‘I highlight Diego Duran for several reasons: reliability, proactivity, predisposition, clarity, and effective decision making.’

‘It is a multidisciplinary, ultra professional, highly-trained team that is dedicated to solving the client’s issue favorably and quickly.’

‘There is no issue the team cannot address – they are always up to date on laws and regulations.’

Key clients

Ventura – Kopel Sanchez


Agroempresa Forestal / Fideicomiso Forestal Bosques del Uruguay


Proa Carrasco – L’Eclat Developers


Global Forest Partners


Hughes & Rienzi


Bosques de las Serranías


Project Platinum (Kimelman + Campiglia)


Bouza Group


Independencia Fondos de Inversión (Independencia Investment Funds Chile)


Nestlé


Dairy producers’ financing fund


GNV GROUP


Work highlights


  • Advised Fideicomiso Forestal Bosques del Uruguay IV on its acquisition of 60,000 hectares of forestry land in four Uruguayan departments.
  • Advised Project Cosmos on the creation of a public offering financial trust for the construction of corporate and residential buildings in Montevideo.
  • Assisted a group of investors with a land acquisition for the construction of a a 19-storey residential, commercial and office building.

Guyer & Regules

Guyer & Regules houses one of Uruguay’s strongest real estate practices, offering an ‘excellent service’, ‘good communication’ and ‘rigour in ensuring compliance with regulations’. The team, composed predominantly of women lawyers, advises on high-end residential projects and commercial operations, namely in the forestry, agribusiness and renewable energy sectors; it also represents a significant number of local REITs. 2022 saw the firm grow with the opening of two offices, one in Carrasco, Montevideo, and the other in Jose Ignacio, Maldonado; they join the Punta del Este office and headquarters in central Montevideo. The practice is co-led by the experienced duo of Federico Susena and Beatriz Spiess. Susena specialises in the structuring of real estate investments, transactions, realty trusts and REITs, and has additional expertise in forestry and agribusiness matters. Spiess focuses on sustainable housing, agribusiness, forestry and renewables projects. At of counsel level, María Fernanda González's expertise lies in agribusiness and forestry, and Carolina Suárez handles the purchase, sale and leases of commercial, industrial and residential properties. Associate Martín Ruiz‘s practice is focused on high-end residential developments, particularly in the Punta del Este/Jose Ignacio area.

Practice head(s):

Federico Susena; Beatriz Spiess


Testimonials

‘The team demonstrates rigour in compliance with regulations regarding land purchase contracts and communicates well with the client.’

‘The team carries out exhaustive analysis and quickly communicates results in a simple way.’

‘Federico Susena, Beatriz Spiess and Carolina Suarez are highly involved with the client.’

‘The fundamental thing is to achieve a synergy between the members of the team and that can be seen in the operation seen from our side as a client.’

‘They have the willingness and knowledge, and they put themselves in the client’s place in order to add to achieve the objectives.’

Key clients

Goldman Sachs


Grupo Éxito


Camposol


REIT Tierras Irrigadas I and II


Fideicomiso Tierras del Litoral


Pires Benlian Desarrollos Inmobiliarios


Montes del Plata (JV Chilean Arauco and Swedish-Finish Stora Enso)


Union Agriculture Group (UAG)


Sodimac


Vik Retreats


REIT Fondo Montes del Este


Ingleby Farms


REIT Peninsula Rentals


Frutura


Atlántico


Navigant


+Colonia


Work highlights


  • Advised on the +Colonia project to develop 515 hectares of land near Colonia del Sacramento.
  • Assisted Frutura Produce with its bid for the acquisition of the assets of Citrícola Salteña.
  • Advised Navigant Group on the construction of a marina, real estate and areas for leisure and recreation on an artificial island facing the rambla of Montevideo.

Dentons Jiménez de Aréchaga

The team at Dentons Jiménez de Aréchaga is ‘committed to its client’s objectives’ and assists with all stages of real estate projects, from planning to approval. The practice counts major banks Banco Santander and Banco Itaú as well as developers among its clients, and handles industrial, commercial, office and residential real estate developments. ‘Great leader’ Héctor Viana heads up the practice and handles property acquisitions and real estate developments; he is also knowledgeable on commercial, corporate, tax and regulatory issues. Of counsel and public notary María José Rovira supports on all real estate matters and is described as ‘organised' and 'meticulous’; and senior associate Aparicio Howard specialises in civil law and disputes that arise from real estate deals.

Practice head(s):

Héctor Viana


Testimonials

‘Fernando and his team of lawyers diligently conduct all stages of a case in a controlled and precise manner.’

‘Fernando Jiménez de Aréchaga is committed to the objectives of his client, tirelessly providing opinions and taking the necessary steps, some of which we had not initially mapped.’

‘Dentons Jiménez de Aréchaga is one of the top firms in Uruguay, constantly striving for excellence and customer satisfaction.’

‘Fernando Jiménez de Aréchaga is a great leader; María José Rovira’s work is organised and meticulous.’

‘It is a collaborative team that closely accompanies its clients, responding quickly.’

‘Its professionals are experienced and inspire confidence to their clients.’

Key clients

Grupo Ivory


Diamantis Plaza


Banco Santander


Trump Group


Selina


GreenWood Resources


CEAOSA


Arcos Dorados Uruguay


CBRE


Todd Anthony Robinson


Immobiliaria Pams


Work highlights


  • Advised high-end residential complex Diamantis on its insolvency proceedings.
  • Advised Banco Santander on the financing of a real estate development in Villa Biarritz, Montevideo.
  • Advised Trump Group on the construction of a residential tower in Punta del Este.

Posadas

Posadas houses a strong real estate department that ‘combines tradition with sophistication and international experience’. The group advises developers and investors on urban and rural real estate mandates, with particular expertise in the structuring of real estate projects and the implementation of REITs. Notary public Federico Peñasco heads up the practice and focuses on the structuring of trusts and restructuring of liabilities, sales, and acquisitions. Notary Florencia Larraburu left the practice in October 2022, and former practice co-head Eduardo Ferrari departed in June 2023.

Practice head(s):

Federico Peñasco


Testimonials

‘The partners at Posadas are always highly involved in the work.’

‘The practice combines tradition with sophistication and international experience.’

Key clients

La Buonora y Asociados


Greenwood Resources


Montes del Plata


JHSF


Celtevik


Cosmena


Berkes Construcciones y Montajes


Delivery Hero – Pedidos Ya


Municipality of Maldonado


Gomez-Zorrilla Desarrollos


Lumin


Work highlights


  • Advised La Buonora y Asociados Desarrollos on the structuring of the Huertas Barrios residential real estate project.
  • Assisted Celtevik with the land purchase and structuring of a residential real estate project in Manantiales.
  • Advised JHSF on the sale of real estate lots in a residential community in San Carlos, Maldonado.

Hughes & Hughes

The department at Hughes & Hughes excels in rural real estate, namely on the purchase of land for forestry activities; in recent years, the group has advised Finnish company UPM on its major pulp mill project at Paso de los Toros. The practice has additional experience acting on real estate mandates concerning the renewables sector – it recently advised wind farm operator Gemsa on the renegotiation of land leases. At the helm of the practice, Haroldo Espalter specialises in rural real estate transactions. Key partner Juan Carlos Oreggia Carrau leads on a host of matters, and Florencia Beyhaut has experience advising foreign investment funds in the purchase of rural land for the purpose of forestry and agriculture.

Practice head(s):

Haroldo Espalter


Key clients

UPM


San Miguel


Akuo Energy – Glymont


Global Timber Resources


GTI 7 Investments Acquisitions Company


GTI 10 Investments Acquisitions Company


GMO Global Renewable Resources


The Rohatyn Group (TRG)


Automotores Gildemeister


Work highlights


  • Advised UPM on land permits relating to its Paso de los Toros pulp mill and operations at Montevideo’s port.
  • Advised state-owned electricity company UTE on a public bid to extend the terms and amend prices of PPAs executed with wind farm producers in Uruguay.
  • Assisted CIEU with financing the construction of schools and childcare centres across Uruguay.