Real estate in Chile

A core area for Barros & Errázuriz' since it was founded in 1988, the firm's 13-strong 'multidisciplinary real estate practice is solid in all areas', consistently handling: complex real estate operations in a wide variety of industries; creative acquisition structures, real estate associations and consortiums; and real estate development project financing. The firm also fields specialists in infrastructure and construction, and telecoms infrastructure; and has consolidated its expertise in regulatory and contentious issues surrounding city planning, construction and tourism. Being a full-service offering, clients can additionally tap into the firm's robust, tax, banking and finance, capital markets, M&A and regulatory practices. The group's co-heads are José Ignacio Ovalle (building projects, condominiums, shopping centres, offices, ports, hotels and subdivisions); and 'very solid adviser' Patricio Solórzano  and Oscar Ruiz-Tagle, who both have over 25 years' experience in real estate projects. Also integral to the team are counsel Alejandra Aránguiz (urban, regulatory and municipal administrative law) and senior associate Eduardo Tirado, who is active in corporate and real estate matters.

Fielding 'one of the best real estate practices on the market', the 11-strong department at heavyweight firm Carey has substantial experience in the development, financing, construction and sale of real estate projects, including residential, commercial, industrial, mining, energy, hotels, casinos, agro-housing, conservation parks, shopping centres, office buildings and educational centres. It also houses specialists in purchases, sales, leases, portfolio securitisation, and real estate asset management; and the practice's advice typically encompasses corporate, regulatory and tax issues, as well as assessing potential dispute resolution claims. With previous experience including almost a decade at a major real estate development company, 'excellent legal and strategic adviser' Juan Pablo Stitchkin is widely respected for his advice on property development, commercial real estate, retail, regulatory issues and zoning, along with claim management and construction issues; and co-head and counsel Eduardo Martin (Officer of the International Bar Association Real Estate Committee) is highly regarded for acquisitions, sales and leasing work. Strong support is provided by associates Javiera Avilés and Tomás Varela ('great handling of real estate/urban issues'), who both have broad experience in real estate matters.

'A great asset when looking for real expertise', the eight-strong department at full-service Cariola Díez Pérez-Cotapos is 'second to none' in the Chilean market for its advice on major real estate M&A deals, including the purchase and sale of large shopping malls, office buildings, and utilities' real estate assets. It is also highly experienced in major projects involving industrial plants, shopping malls and large IT premises, and consistently sought out for its assistance with urbanism and territorial development-related regulations, long-term lease agreements, and construction issues involving industrial, commercial and energy projects. Juan Pablo Matus, whose broad practice includes major real estate projects is 'an excellent lawyer and negotiator'; and promoted to partner in 2020, the 'very responsive' Tomás Vidal's 'substantive experience' includes advising foreign funds on the acquisition of office buildings in Chile and the management of condominiums. At associate level, the practices of Mónica Pavez and Daniela Fierro include real estate assistance to local and foreign companies.

The six-strong team at full-service law firm Philippi Prietocarrizosa Ferrero DU & Uría has an enviable name in the market for its assistance to international real estate investment funds, with particular experience in residential condominiums, apartment and office buildings, shopping centres, hotels, and urban and rural real estate developments. Clients additionally benefit from the team's ability to advise on financing and tax structures, real estate-related M&A matters, environmental impact studies, and property investors' partnership agreements. Team head José Tagle, who 'finds solutions where usually there are none', is highly rated for real estate transactions, investment funds, urban law, corporate real estate law, and the purchase and sale of assets and company shares. Significant support is provided by senior associates María Eugenia Badilla Lepe (preparation of title studies, sale and purchase agreements, lease contracts and registry matters); and Cristóbal Uriarte ('solid knowledge of the real estate business'), who focuses on both the development of real estate projects and real estate-related M&A.

The 19-strong department at Bofill, Mir & Álvarez Jana predominantly advises financial institutions (including insurance companies) on real estate projects, while international investment funds are regularly assisted with real estate investments; clients additionally benefit from the firm's expertise in tax, regulatory matters, disputes, natural resources and environmental law. The group is co-led by Alejandro Álvarez, who advises construction and real estate companies on their legal and finance requirements, and assists with real estate project-related public subsidies; and fellow name partner Octavio Bofill, whose practice includes real estate project finance. Other active partners are Ana María Yuri, who works with insurance companies and investment funds on real estate matters; Rodrigo Saffirio (pre-sale reviews, contracts and real estate finance); and José Antonio Velasco, who is experienced in real estate project finance and developments.

'Great for technical quality and legal creativity', CMS Carey & Allende is particularly focused on urban development, infrastructure development and regulatory matters. The compact team has longstanding experience in urban zoning matters, pipeline developments, power lines and other easement matters, as well as expropriation procedures and the regularisation of property titles for industrial plants and other real estate assets; and in addition to advising on project structuring at contractual, tax and financial levels, the group's assistance comprises property diagnoses and clearances, as well as designing appropriate legal structures. The 'best lawyer around for urban regulation issues', Pabla Gaínza heads the real estate and construction and public law and regulatory practices, with senior associate Karin Muñoz providing valuable support on real estate projects.

Finding ‘creative solutions to the most delicate problems‘, the five-member group at Fleischmann & León Abogados advises a raft of real estate and construction companies – as well as investment funds – on the development of housing (including those involving government subsidies), office and commercial projects; and its focus includes advising project clients on their relations with landowners, finance structuring, and negotiations with operators of commerce stores and shopping centres. Real estate, construction, M&A and project finance specialist Juan Pablo Urenda (‘a great lawyer‘) leads the real estate practice, which includes: founding partner Juan Ignacio León Lira (construction, real estate, public works concessions and mining projects); and senior lawyer Vicente Fuenzalida Rivas, who ‘understands the real estate and construction business very well'. Since publication, the early-2022 departure of León (to ONTIER Chile), has seen Paulo Román Reyes (a 2019 arrival from the former Aninat Schwencke & Cia) take on a name-partner role with the firm reorganised as Fleischmann & Román Abogados; it has subsequently hired infrastructure and construction litigation specialist Juan Carlos Flores from Abogabir Miranda Abogados – effective as of March.

The principal areas of focus for Guerrero Olivos' six-strong team are real estate transactions and finance, but the practice also encompasses asset management, project development, regulatory issues and real estate-related litigation. On the projects side, the group assists with early-stage pre-contractual matters, including acquisitions, financings, permits and construction contracts, through to the sales process. Practice head Martín Santa María has both transactional (AAA office market, site deals and day-to-day servicing of real estate developers) and regulatory (zoning regulations and real estate permit conflicts) practices. Providing essential support are José Gabriel Undurraga (public law, regulatory matters, permitting, real estate and related disputes); and senior associate Tomás Rosemary, who advises on real estate transactional aspects.

Widely respected for its infrastructure and construction expertise, Larrain y Asociados Abogados‘ seven-member real estate department consistently advises developers, sponsors, buyers, sellers and lenders on property transactions and project developments, including due diligence, finance and M&A work. The firm also fields experts in real estate litigation, title reviews, collateral issues, co-ownership regulations, and purchase and transactional agreements; and its sector knowledge covers housing, hospitality, viticulture, energy and mining. The practice is co-led by José Pedro Baraona (residential and commercial real estate developments and transactions); and Juan Carlos Bulnes, a former Undersecretary at Chile’s National Property Ministry, who is active in agro-industry, tourism and public property-related matters. The senior associates to note are José Spoerer (over nine years’ real estate experience), Juan de Dios Ferrada (recently active in zoning and land use matters), and real estate transactions expert Manuel Larrain. Since publication, de Dios Ferrada and Joaquín Larrain have been raised to the partnership – effective January 2022.

Advising investors, lenders, and other key real estate players, Marinovic & Alcalde Abogados' seven-strong group has substantial experience in urban planning and development, land parcelling, lot divisions, land use changes and concessions, along with expropriations, property easements and water rights. Other areas of strength include real estate, construction and environmental-related permits, as well as regulatory matters and compliance with land use regulations. The principal advisers are real estate head Juan Carlos Méndez (over 30 real estate projects during 2020); founding partner Iván Marinovic Pacey, who adds notable gravitas to the team; and senior associate Domingo Edwards, who is active in corporate, real estate and zoning matters, as well as project finance and developments.

Delivering ‘powerful work in the real estate sector‘, MBC Abogados advises some of the most prominent players in Chile’s real estate sector on major projects (all over Latin America and beyond); and the large 20-strong department assists with the full gamut of real estate-related transactions and projects, including acquisitions, establishing of real estate funds, property finance and real estate development. The practice co-heads are ‘outstanding attorney‘ Carolina Menichetti and Benjamín Salas (partner since 2019), who are both real estate project development specialists; and Ignacio Bolelli, a legal adviser to Grupo Patio’s board of directors. The department is strongly supported by senior lawyers Francisca Rodríguez, Cristóbal Silva and Sybil O’Reilly, who are all active in real estate project development and financing work.  Former senior associate Diego Yávar left the firm in April 2021.

The four-member team at Prieto Abogados advises on the full gamut of real estate sector work surrounding the acquisition, development and construction of large real estate projects, including assistance with tax planning, finance, corporate law, land use, environmental matters and construction issues; the team also handles due diligence work and contract negotiations. With longstanding experience in leading the real estate practice, Fernando Samaniego's focus includes arbitration and litigation work, particularly in relation to infrastructure and real estate disputes. Providing key support are Alejandra Bañados (promoted to counsel in 2021), whose practice includes acquisition projects, long-term lease agreements and due diligence; and senior associate Camila Urzúa, who is active in real estate transactions and bidding procedures. Former partner Cristóbal Villarino and associate Juan Andrés Ilharreborde left the firm in early 2020.

Urenda, Rencoret, Orrego y Dörr's real estate department is well known for its full-service assistance during the development of real estate projects, including due diligence, joint ventures, purchase and construction agreements, finance, obtaining administrative permits, and property sales. The department is also highly regarded for its day-to-day advice, as well as its assistance with real estate project management; and in recent highlights, the team advised Inmobiliaria Angamos on a new 89-unit residential building in Antofagasta. The team co-heads are experienced partners Gonzalo Errázuriz ('availability is almost always immediate'), and Felipe Rencoret (partner since 2017), who both advise on a diverse range of real estate work. Frequently working alongside Errázuriz is key associate Andrés Siles.

'Very competent in real estate matters', Barros Silva Varela & Vigil's six-member group is particularly experienced in the urban and environmental regulations surrounding real estate projects; clients also benefit from the firm's ability to assist with real estate project-related administrative and judicial issues. Typical work includes housing projects; real estate-for-rental matters; real estate projects involving government housing subsidies; and real estate financing through preferential capital structures. The broad practice of department head José Joaquín Silva ('very good business vision') covers real estate, regulatory and territorial planning issues, projects' environmental impact assessments, and negotiations with communities. Associate Marcela Horzella provides key support.

DLA Piper Chile consistently assists both national and international clients with a wide array of real estate matters, ranging from the development of real estate projects and the drafting of construction contracts, to urban planning and project financing for housing, hospitality and photovoltaic plants; the team also regularly collaborates with the firm’s energy, regulatory and taxation departments. The real estate and construction practice group co-heads are Rodrigo Álvarez, who has over 20 years’ experience in real estate matters; and counsel Teresa Fernández, who handles a broad spectrum of real estate matters. At senior associate level, Bernardita Doren also assists with real estate transactions, including residential, industrial and agricultural developments.

The six-member multidisciplinary department at Garrigues Chile, which 'outperforms other firms with its exceptional care', has broad experience in high-profile office, residential, commercial and hotel projects; and clients benefit from full-cycle support during the development of their projects, from financing, tax structuring, regulatory analysis and compliance issues, to acquisitions, sales, construction matters, and leasing. With over 20 years' experience in real estate (including finance and development), team leader José Miguel Rioseco advises on the residential, office, shopping mall, ports, and tourism and hotels sectors; Luis Eduardo Correa ('great negotiation abilities') assists with real estate and corporate and M&A work; and senior associate María Cecilia Morandé's practice includes acquisitions of real estate projects and developments, and real estate regulatory matters.

The four-strong real estate group at Grasty Quintana Majlis – in association with Clyde & Co assists with every stage of a real estate project, from real estate conveyances to construction agreements, real estate joint ownership regulations and finance agreements; it also advises on related real estate businesses, particularly the surveillance and management of properties, including lease drafting and project administration contracts. Leading the firm's real estate team, Hugo Prieto has vast experience in advising on the planning and operation of real estate businesses; and associate José Francisco Osman is a key member of the real estate, construction, mining, energy and corporate practices.

Honorato | Delaveau consistently advises real estate and construction companies, property investment funds, investment banks, family offices and private clients on real estate project developments, including residential, industrial, office and commercial projects; the team additionally assists with the establishment of development-related operating vehicles and financial structures, as well as with the real estate aspects of agricultural businesses, including fruit and wine producers. Team leader Juan Ignacio Peña has substantial experience in real estate, engineering and construction law, and project finance; and Sebastián Delpiano is an asset-backed structured finance expert. At associate-level, Antonia Vial is experienced in real estate transactions involving the development of shopping centres and Stripcentres, while Macarena Riquelme assists with real estate developments.

Jara del Favero Abogados recently reverted to its former independent status, following the unwinding of its 2018 merger with Ried Fabres in early 2020. The 'first-class' projects-focused practice is experienced in planning, financing, title opinions, land purchases, and permits and administrative procedures, along with construction, sales contracts and leases; the group also advises on related M&A, IP and tax law aspects. Commercial and civil law, property and mining contracts expert Sven Herlin leads the firm's real estate and M&A departments, which include Julio Trucco  (promoted to director in January 2021) and associate María Carolina Concha, who are both active in real estate projects.

At ‘first-class law firm‘ Morales & Besa, the six-member transactional and regulatory team consistently works alongside the firm’s regulatory, banking and finance, tax, and energy practices on real estate and construction matters; and its work ranges from real estate credits, sales and lease purchase agreements to the issuance of debt guarantees and land title studies. The group is headed by experienced partner Macarena Laso, who has broad experience in public concessions, real estate and construction works, and infrastructure projects.