Real estate and construction in Luxembourg

Arendt & Medernach

Leveraging the firm's broader asset management and corporate/M&A capabilities, Arendt & Medernach has a market-leading real estate funds reputation, work which includes the structuring of investment vehicles and the pursuant real estate transactions. Team head Pierre Beissel and founding partner Claude Niedner are pivotal to work in this segment of the market, with Beissel recently advising Marcol Europe on a joint venture with Angelo Gordon on the establishment of a self-storage platform called "Space Plus". Christian Point has more of a conventional leaning to his practice and regularly advises developers and construction companies in their domestic real estate work, in both a contentious and non-contentious setting.

Practice head(s):

Pierre Beissel; Christian Point

 

Key clients

Leasinvest

Primonial

Alliance RE

AXA Real Estate Investment Managers

CB Richard Ellis

LCN Capital Partners

Dream Global REIT

SIGNA

Skandia

Hines

Work highlights

  • Assisted a South-European family office on the acquisition of a landmark office building located in one of Luxembourg City’s primary arteries and home of much of Luxembourg’s large financial services industry, owned by one of the largest family offices in the country.
  • Assisted real estate and private equity-focused fund Marcol Europe SA on a joint venture with Angelo Gordon, with the set-up a self-storage investment platform called “Space Plus”, which intends to become a predominant player in one of Europe’s most undersupplied markets.
  • Assisted GLP, one of the longest standing fully integrated logistics investors, developers and operators, on the setting up of GLP Europe Income Partners II, a closed-ended pan-European fund focusing on the acquisition and management of institutional-quality logistics properties, and the company’s fourth Europe-focused investment vehicle.

Dentons

Able to draw upon a 'deep knowledge' of the domestic real estate sector, Dentons provides 'high-quality support' to institutional investors, promoters and sellers across a range of domestic and cross-border work relating to offices, retail and logistics. Recognised as a 'true deal-maker', team head Martine Gerber-Lemaire 'combines perfect technical skills with great business understanding’, to provide a very effective service to clients across a wide range of their real estate needs, including an increased volume of mixed-use development projects for promoters effectuated through joint venture agreements. Senior counsel Christel Dumont is 'very knowledgeable' across a range of front-end work, including as it relates to sales, acquisitions and leasing, and is also effectively able to leverage her overarching insolvency/restructuring credentials to good effect from time to time for real estate entities.

Practice head(s):

Martine Gerber-Lemaire

 

Testimonials

‘They have deep knowledge of the Luxembourg real estate sector and are very experienced in advising public and private sector clients in large real estate and construction projects and handling difficult and sensitive topics.’

‘The team provides high-quality support, and an innovative hands-on approach.’

‘Very integrated cross-border offering with finance and real estate specialists in different jurisdictions.’

‘Martine Gerber-Lemaire is a true deal maker, she knows the market very well and always goes the extra mile. She really understands the client’s business and DNA and therefore gives very hands on practical advice that allows the client to go forward and make decisions.’

‘Martine Gerber-Lemaire is a very responsive, client-focused lawyer who combines perfect technical skills with great business understanding.’

‘Martine Gerber-Lemaire is a very dedicated, knowledgeable lawyer who seeks solutions and really fights for her client.’

‘Martine Gerber-Lemaire: excellence, pragmatic, extremely close to business, understands needs and commercial stakes, tailor made solutions, extremely available, great character and brilliant mind.’

‘We have been working a lot with Christel Dumont who made herself available whenever needed, worked very hard and brought to the table excellent and legally sound solutions. Christel is very knowledgeable and has an acute understanding of the sensitivity and confidentiality aspects of the project we are working on with her.’

Key clients

AG Real Estate

IKO Real Estate

M&G Real Estate

Unibra Real Estate

Greenfinch capital/ Silverfinch

Work highlights

  • Advised AG Real Estate on the sale of Ceryx sàrl which holds the Charlotte office building in Luxembourg (5,000 sqm) to Ham 11, a fund managed by Macquarie’s GLL Real Estate Partners.
  • Advised AG Real Estate on the sale of its a 50% or remaining stake in BG1 SA, which owns the Crystal Park building (rented by PwC) at Ban de Gasperich to Societe Generale Assurances.
  • Advised IKO Real Estate on the structuring of a landmark project consisting of various real estate transactions in order to develop the Red-Cross House.

Elvinger Hoss Prussen

Benefitting from a 'deep knowledge of both the theoretical and practical sides of real estate’, Elvinger Hoss Prussen provides a 'solutions-oriented' approach – effectively drawing upon complementary areas including tax, funds, corporate and finance – across a range of real estate projects relating to retail, office space, residential and hospitality. The team is, however, perhaps best-known for its development expertise and in this context it adds value to developers and end-users through the high level of knowledge it has in relation to urban zoning and environmental issues. 'Responsive and empathetic' counsel Stéphanie Pautot 'does her best to solve issues with balanced solutions' and is recommended alongside zoning/environmental expert Nathalie Prüm-Carré and team head Léon Gloden.

Practice head(s):

Léon Gloden

Testimonials

‘The team works quickly to find a solution, and if none is existing, they create it. The have a deep knowledge of both the theoretical side (laws and regulations, literature…) and the practical side (best practices…) of real estate.’

‘Main contact was Stéphanie Pautot a very good professional dedicated to completion of work.’

‘Stéphanie Pautot is responsive, empathetic and does her best to solve issues with balanced solutions.’

‘Michel Nickels is highly competent.’

Key clients

Lafayette SA

Batipart Invest

Codic Luxembourg SA

Croix-Rouge Luxembourgeoise

BGL BNP Paribas

AGORA S.àr.l. & Cie s.e.c.s.

Codic – Project Royal Hamilius

Work highlights

  • Advised Batipart Invest on the restructuring of its Luxembourg subsidiaries holding the Sofitel, Novotel, Novotel Suites and Mama Shelter hotels located in Kirchberg and near to the station.
  • Advised the Red Cross Luxembourg on the construction of the new Red Cross Building, which will include new premises for blood transfusions and other services in Howald for approximately 13.400 sqm.
  • Advised BGL BNP Paribas in connection with the financing of a real estate development project carried out by CDCL and Giorgetti and consisting in the construction of residencies for approximately 27,000 sqm included in the PAP Arquebusiers in Luxembourg city centre.

KLEYR GRASSO

The 'efficient and proactive' three-partner team at KLEYR GRASSO exhibits 'flawless procedures' to private and public sector stakeholders across the full range of construction and real estate matters in a transactional setting, as well as in a standalone advisory and litigious context. François Collot has 'deep knowledge' which manifests itself at the front end of transactional work, including on construction projects related to office space, as well as in construction/real estate disputes and in a public procurement context. As part of her broad contentious and non-contentious construction/real estate expertise, Yasmine Poos regularly provides advice on complex lease negotiation/drafting. Henry De Ron rounds out the team at a partner level and is particularly adept at handling construction disputes.

Testimonials

‘The team is extremely reactive! They work well together, the whole team has flawless procedures!’

‘The individuals are responsive, take time to listen, do an in-depth analysis of the cases and undertake detailed research.’

‘The team is efficient, proactive and qualified. We really appreciate the way they work and the way they deal with our cases.’

François Collot has deep knowledge and provides very appropriate advice on litigation and advisory matters.

Key clients

IKO Real Estate

Kalchesbrück

CLB Invest SARL

SNCH

LUX-Airport S.A.

Les jardins de Luxembourg

Thomas & Piron

Ministère de la Mobilité et des Travaux publics

FARE SA

Tracol Immobilier

Fonds de Kirchberg

Group HOCHTIEF

CIT Blaton

Fonds du Logement

Linklaters

The 'goal-oriented and creative' multidisciplinary team at Linklaters provides a 'pragmatic and practical' service to an eclectic mix of stakeholders, including institutional investors, banks, developers, funds and end-users across the gamut of commercial real estate matters. Counsel Anton Cox is the main contact for downstream real estate investment work and regularly advises institutional investors on Benelux specific asset and share deals. Banking partner Patrick Geortay heads the team and regularly advises borrowers and lenders on real estate financing matters.

Practice head(s):

Patrick Geortay

Testimonials

‘Round-the-clock availability and committed team to commercial milestones. Excellent interaction between various teams within the company (corporate, financing). Goal-oriented and able to look for creative solutions.’

‘The partners manage to discuss issues in a clear and concise way while maintaining a pleasant and upbeat environment.’

‘The biggest strength is their ability to give pragmatic and practical advice, their ability to find solution to any problem.’

Key clients

AustralianSuper Pty Ltd

ProLogis International Funding II S.A.

Sogecap

GLL Real Estate Partners GmbH

Belfius Insurance SA

Barings Real Estate

Work highlights

  • Advising Sogecap on its acquisition from AG Real Estate of 50% of the remaining shares in BG1 SA, which owns PWC’s tailor-made new headquarters in Luxembourg.
  • Advising GLL Real Estate Partners on the acquisition of 100% of the shares in Ceryx from AG Real Estate and its affiliate Mosella Consult.

Allen & Overy Luxembourg

Able to draw upon vital resources from complementary practice areas including corporate, banking and tax, Allen & Overy Luxembourg's 'responsive team provides clear and concise advice' across all aspects of the purchase, sale, construction and lease of properties. Although the firm does handle some "bricks and mortar" mandates, the majority of the instructions relate to corporate-related real estate, including high-profile transactional work for major real estate funds clients. Jacques Graas is a key member of the team and handles real estate work as part of his broader M&A offering. Serge Hoffman left the firm in 2022.

Other key lawyers:

Jacques Graas; Philippe Eicher

Testimonials

The responsive team provides clear and concise advice.’

Key clients

AG Real Estate

Generali Real Estate

Work highlights

  • Advised Generali Real Estate Group on its acquisition of the “Alter Domus” 11,700 sqm head office building located in the Cloche d’Or district in Luxembourg from Hannover Leasing, a subsidiary of Corestate Capital.
  • Advised AG Real Estate on the acquisition of Edimo, a company owning a property in Luxembourg City-Hamm district, to develop a quality office project with an estimated surface area of some 20,000 square metres.

Baker McKenzie

Co-headed by Jean-François Findling (‘really outstanding for secured lending and real estate financing operations’) and Jean-François Trapp, Baker McKenzie‘s ‘dedicated and responsive‘ three-partner practice has extensive knowledge of the intricacies and nuances of the local real estate landscape and combines this with an international mindset (enhanced by a vast network of foreign offices), ensuring that it excels at handling work for international clients on their Luxembourg commercial property matters. Fund entities account for a sizeable proportion of the client roster, in the context of their investment/disposal strategies, through share and asset deals.

Other key lawyers:

Elodie Duchêne

Testimonials

‘It is a dedicated and responsive team of good professionals that are able to cover all real estate industry matters, as well as ancillary items thanks to in-house specialists.’

Jean-François Findling is really outstanding for secured lending and real estate financing operations. He is knowledgeable and defends his client’s interest, but also always works towards an appropriate and commonly acceptable solution in order to get the deal done.’

Clifford Chance

Combining core local real estate expertise with international best practice as well as the ability to draw upon the expertise in personnel from the broader finance, corporate, tax and funds teams, Clifford Chance is well placed to advise stakeholders across a range of transactional real estate mandates. This is particularly apparent in the team's ability to advise developers throughout the life cycle of a deal, including acquisition, development, leasing of properties and the ultimate sale. Albert Moro heads up the team that also features counsel Sébastien Schmitz, whose versatile workload in the space includes advice to end-users and developers on office and commercial lease contracts.

Practice head(s):

Albert Moro

 

Testimonials

‘Clifford Chance Luxembourg is in our opinion the top firm for real estate matters, as they have a specific real estate department.’

Key clients

Grossfield PAP SICAV RAIF

ICN Development

Work highlights

  • Advised the developer (a joint venture between a renowned Belgian real estate developer and a real estate Luxembourg group) in relation to “Le Bijou” (a 6,000 sq metre office building) and successfully leasing all the offices, and then on the ultimate sale to Swiss Life AM France.
  • Advised Belgian real estate developer, ICN Development, on the redevelopment of the historical Factory 1, having previously acquired it from Villeroy&Boch.
  • Advised a joint venture between a renowned Belgian real estate developer and a renowned real estate Luxembourg group, which is the main real estate developer of the new area in Luxembourg City under development known as “Ban de Gasperich” or “Cloche d’Or”, a new district designed with an ideal mix of head offices of major international groups, shops, housing and the future largest park in Luxembourg.

DSM Avocats à la Cour

Real estate is a core area of focus for DSM Avocats à la Cour and this is demonstrated in its ability to provide an ‘efficient and pragmatic’ service to a range of stakeholders, including developers, investors, brokers and family offices. Team head Mario Di Stefano is pivotal to the success of the practice in light of his broad expertise, which covers work throughout the life cycle of a real estate project, including acquisition of the land, advice on zoning/environmental issues, lease negotiations and divestment of the property. Renaud Le Squeren is also a key contact and excels in advising on projects underpinned by sophisticated financing mechanisms including securitization vehicles.

Practice head(s):

Mario Di Stefano

Other key lawyers:

Renaud Le Squeren

Testimonials

‘It is an efficient, pragmatic and competent team.’

‘As a leading surety provider in Benelux for real estate and construction companies we appreciate the firm’s in-depth knowledge of the industry.’

‘Mario di Stefano often says “no” to us, which means he really assist us to avoid making mistakes. He assisted us in very complex matter linked to large real estate transactions involving international banks and a listed real estate developer.’ 

Key clients

Rizzani de Eccher

Tracol Immobilier

ICN

Tralux

Landimmo

IKO Real Estate

Luxembourg Capital

EuroCaution

Wagner Group

Guy Rollinger Group

Work highlights

  • Representing Rizzani de Eccher, an Italian general contractor, in relation to the recently opened mixed-use Cloche d’or Shopping Center and residential Zenith Towers located in the new Cloche d’Or neighborhood.
  • Advising Benelux-focused real estate group, ICN Group, across a range of real estate matters, including on development, construction and leasing contracts, and real estate acquisitions.
  • Advising EuroCaution, a broker specialising in financial guarantees and securities, across a broad range of legal matters mostly related to real estate, from the negotiation and conclusion of complex transactions to legal representation before Luxembourg courts when necessary or with respect to construction sites when a completion bond (garantie d’achèvement) has been called.

Loyens & Loeff

Co-headed by Veronique Hoffeld and Anne-Marie Nicolas, Loyens & Loeff's seven-partner multidisciplinary team regularly acts for end-users, developers and investors across a range of domestic and European cross-border mandates, where it collaborates closely with lawyers from across its strong Benelux network. Core client European Investment Bank continues to generate a significant flow of contentious and non-contentious real estate-related matters.

Key clients

European Investment Bank

IMFARR Beteiligungs GmbH

EQT Real Estate

Meyer Bergman Ltd

HighBrook Investors

Brookfield Asset Management

Formart S.A.

Starwood Capital Group

Real I.S.

Investec

Work highlights

  • Continuing to support the European Investment Bank in its different high-level real estate projects.
  • Advised IMFARR Beteiligungs GmbH on the finance, corporate and tax aspects of several real estate acquisitions of buildings in Europe.
  • Advising Brookfield on the financing of its acquisitions of real estate buildings mainly in the UK, but also in the European Union. Also heavily involved with Brookfield regarding their different fund set ups focusing on real estate investments.

MOLITOR Avocats à la Cour SARL

The 'very professional and attentive' team at MOLITOR Avocats à la Cour SARLMeet the Team is well-versed at advising clients across the full range of real estate-related contractual matters, including as it relates to leases and in the context of share purchase agreements to facilitate the acquisition of property. In addition, the team, co-headed by Stéphanie Juan and Paulo Lopes Da Silva, is effectively able to draw upon the firm's overarching litigation strength, both in the context of real estate disputes and from a risk management context.

Other key lawyers:

Sophie Lamothe; Stefano Tesone

Testimonials

The team is very professional and attentive.’

Pinsent Masons

Pinsent Masons entered the market in July 2022 following its recruitment of a number of former Wildgen partners and teams.  The ‘responsive and committed‘ team is best known for its funds-related real estate work, including advice on the most appropriate fund structure and the pursuant downstream investment work.

Other key lawyers:

Romain Viard

Testimonials

We appreciate the responsiveness of the individuals we have worked with, as well their ability to listen and explain complex matters.’

The team is responsive and committed.’

Key clients

Gremi International SARL

International Housing Solutions

Kara Investment Fund

Work highlights

  • Advised Gremi International on raising capital from a number of professional investors (from the EU, Brazil and US) in order to finance through a Luxembourg reserved alternative investment fund (RAIF) a real estate project: “Eco Estrela” that encompasses several hotels in joint venture with a luxury hotel group in Brazil.
  • Assisted a real estate company together with a consortium of investors to successfully acquire a portfolio of 12 UK private hospitals in 2013.
  • Advised International Housing Solutions on the setting up of a Luxembourg Fund qualified as a RAIF (Reserved Alternative Investment Fund) to support the construction of green affordable real estate in Kenya and South Africa.