Real estate in Panama
Alemán, Cordero, Galindo & Lee fields a strong real estate practice co-led by partners Lorenzo Marquinez, Eloy Alfaro and the strongly-endorsed Anibal Galindo. The well-established powerhouse offers legal advice to banks, financial institutions and luxury real estate developers on a broad spectrum of sector-related matters, with a recent focus on the financing of commercial, industrial and residential developments. Partner Arturo Gerbaud led advice to Banco General on the $24m financing for the construction of the Arraijan Town Centre mall; the team also represented the same bank in another $34m financing for the construction of a premium beachfront community. In on-going work, the four-partner practice group continues to assist Ideal Living regarding Panama City’s largest mixed golf/residential development project, Associate Rafael Marquinez is also active in the team. Santa María Golf & Country Club. Grupo Verdeazul, Grupo Eleta and Constructora Urbana are other representative clients.
The real estate and property practice at Arias, Fábrega & Fábrega handles a variety of complex legal matters, demonstrating experience across zoning law, environmental issues, developments, commercial lease agreements and financial structures with a focus in the hospitality and tourism sectors. Under the leadership of the strongly endorsed María Carolina Arroyo, the team recently advised Marriott Hotels, and developers Grivalia Hospitality and Grupo Eleta on the development of the the luxury Ritz-Carlton Reserve hotel being built on Pearl Island. In other key mandaates, Rodrigo Cardoze led advice to the private equity real estate company Caribbean Property Group on the sale of the Royal Decameron Golf, Beach Resort & Villas. Additional clients include include Banco General, Hyatt Hotels and La Hipotecaria.
Galindo, Arias & López is among the leading market-players advising clients on real estate transactions and developments. The nine-strong team receives instructions from developers, investors and mortgage lenders in relation to real estate funds, sales, the incorporation of projects into the Horizontal Property Regime and joint venture financing structures. In current headline work, the team is acting as lead counsel to China State Construction Engineering Company on the $137m Ciudad de Esperanza development - comprising 2250 housing units, a high school, university campus and other recreational spaces. In another on-going matter, the practice group is representing Ocean Reef Islands Financing as the promoter of the first residential complex on man-made islands in Panama. Of counsel Salomón Joseph Behar heads a practice that also count on highly-regarded associate Lizbeth Villarreal.
The real estate practice at Fabrega Molino leads advice to lenders, contractors, developers and investors on the sale and acquisition of land, revolving credit facilities, zoning, the negotiation of construction contracts and obtaining of special permits. Senior partner José Augustín Preciado leads the department, which also assists clients in commercial, residential and multi-use developments, as well as sector-related contentious matters. José Antonio Sierra and Marleny Medina make up the rest of the core team.
LOVILL receives instructions from developers, investors, construction companies, lenders and brokers, advising them on all corners of the real estate market. Construction law, zoning restrictions, co-ownership regulations and tax planning for new developments are all areas of expertise for the team. Recently promoted senior associate Omayra Silva leads the real estate practice and is currently advising the Ritz-Carlton Reserve on various legal aspects regarding a hospitality development involving the construction of a hotel and 120 villas, worth up to $100m. Elizabeth Heutermatte, who is highly active in the practice, is also involved in the renewal of several commercial lease agreements and the development of properties in Casco Viejo, the old quarter of Panama City.