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Real estate, hospitality and leisure in Puerto Rico

McConnell Valdés LLC

McConnell Valdés LLC's comprehensive real estate practice works in collaboration with the firm's finance group, and maintains a focus on three different areas: hotel and resort finance; real estate and private-public partnerships transactions; and finance transactions. Its client base includes companies operating in the real estate development, hospitality and aviation sectors, among others. The department also houses lawyers with recovery finance expertise, helping clients with the Community Development Block Grant Disaster Recovery programme. Jorge Ruiz-Montilla leads the practice and has experience in the planning and structuring of resort communities and timeshare, condo-hotel and condominium projects, sale and leaseback transactions and lease agreements. Patricia George-Iguina acts as vice chair and additionally covers permitting processes, lot development projects and hotel management contracts. Harry Cook is also noted.

Practice head(s):

Jorge Ruiz-Montilla

Key clients

Oriental Bank

International Hospitality Associates

PRISA group

Maxxam

Citibank

Taubman Properties

DBR Dorado Owner

Toroverde Adventure Park

Island Hospitality Partners

Paulson Puerto Rico

Grove Gate Financial

ESJ Resort

Sunstone Properties

Sonesta International Hotel Corporation

Work highlights

  • Acting as lead consuel to DBR East Beach Villas on real estate and sales work for the development of the Ritz Reserve branded units at the Dorado Beach Resort.
  • Acting as legal consuel to Grove Gate FInancial on the management and sale of a real estate and loan portfolio.
  • Acting as lead counsel to DBR Wet Point Phase I on real estate and finance work for the development of phase one of the West Point Ritz Reserve branded units at Dorado Beach.

O'Neill & Borges

The strong, full-service real estate practice at O'Neill & Borges is able to assist both private and public-sector clients with corporate real estate matters in particular, including asset-based financing transactions, acquisitions and sales. Acquisitions of loan portfolios and related due diligence are Walter Alomar-Jiménez's key specialisms; Alfredo Alvarez-Ibañez covers sales and acquisitions with a particular focus on shopping centres; and Juan Aquino is especially active in transactions involving industrial properties.

Pietrantoni Méndez & Alvarez LLP

Pietrantoni Méndez & Alvarez LLP has a comprehensive real estate practice with longstanding expertise in projects in the office, shopping and hospitality sectors, as well as a range of residential transactions. Manuel Del Valle often works for local developers and companies in the communication and food and beverage industries, putting an emphasis on construction, conveyancing and land use matters, which are also key areas for the practice as a whole. Donald Hull additionally takes on private client matters, acting for both landlords and tenants. Antonio Molina-Machargo is noted for his activity in connection to shopping centres and residential communities.

Ferraiuoli LLC

Ferraiuoli LLC's real estate group focuses on corporate real estate projects and acquisitions. It mainly advises real estate developers, lenders, tenants, investors and management companies, and is often involved in public-sector transactions, which are María Fernández-Ginorio's key area of focus. Eduardo Tamargo Motroni jointly heads the team alongside Fernando Rovira Rullán, who also leads the firm's corporate department.

Goldman Antonetti & Córdova

Goldman Antonetti & Córdova's real estate and land use team is particularly strong in M&A transactions, both commercial and residential, as well as leasing, construction, and real estate financing. The team's expertise is particularly sought out by clients in the tourism and shopping centre segments. Alicia Lamboy-Mombille covers zoning, environmental and construction law, and Arnaldo Villamil has longstanding experience in industrial and commercial real estate.

ECIJA SBGB

Praised for its 'high level of knowledge, professionalism and transparency', ECIJA SBGB's real estate practice is aimed at lenders, property owners and managers as well as landlords, government officials and tenants. The team has broad transactional expertise, and also stands out for its involvement in hurricane damage reconstruction projects financed by US and locally issued grants and funds. Mixed-finance projects developed with US federal tax credits, and infrastructure projects in the areas of energy, tourism, low-income housing and transportation also feature in the team's workload. Another area of knowledge is repossessed properties listings, where it acts for banks. Managing partner and corporate and tax head Fernando Berio focuses on real estate, particularly on pre-development activities, mixed financing and tax matters. Jorge Fernandez-Reboredo is another key figure.

Testimonials

‘They have a high degree of knowledge in various aspects of the law, particularly in everything related to the development business and real estate financing.’

‘Jorge Fernández-Reboredo and Fernando Berio are both experts and excellent in their performances.’

High level of knowledge, professionalism and transparency.

Key clients

New Fortress Energy

McCormack Baron Salazar

Dorado Tech Park

Banco Popular de Puerto Rico

PRISA Group

Puerto Nuevo Terminals

The Michaels Organization

Pontifical Catholic University Services Association

Luis Ayala Colón & Sucres

Work highlights

  • Acted as local counsel to New Fortress Energy in a transaction involving a fully committed $800m term loan facility provided by certain funds and accounts managed by affiliates of Apollo Global Management.
  • Advised McCormack Baron Salazar on Barrio Turabo Development, a housing development in Puerto Rico using CDBG-Disaster Recovery funds to help the island recover from the 2017 hurricane season.
  • Assisting the PRISA group in the development of a 740-unit, affordable housing community in San Lorenzo, Puerto Rico, as part of the island’s reconstruction efforts after hurricanes Irma and María.

Estrella LLC

Estrella LLC provides clients with real estate advice, especially in connection to the correction of property registry mistakes, both through notarial documents (the department including both lawyers and notaries) and court proceedings. Odemaris Chacón Varona is the key practitioner in the team; her labour and administrative practice is complemented by her knowledge of real estate, with an emphasis on the execution and registration of property deeds, as well as real estate litigation.

Practice head(s):

Odemaris Chacón-Varona

Key clients

Puma Energy Caribe

Fidelity National Title Group

SBA Communications

Stewart Title Guaranty Company

Work highlights

  • Representing Stewart Title Guaranty Company in a mortgage matter, including a complaint of declaratory judgment.
  • Advising Fidelity National Financial on a complaint to request the mortgage cancellation because it was not registered due to failure to include municipal consent.
  • Assisting Puma Energy Caribe with its request to extend the lease term of a property in Arecibo, Puerto Rico.

Vidal, Nieves & Bauzá, LLC

Vidal, Nieves & Bauzá, LLC has a recognised real estate team, which is headed up by Arline Bauzá-Figueroa, who focuses on social interest housing, sub-performing and non-performing mortgage loan cases and restructurings. Most of the group's clients are active in the tourism, hospitality and infrastructure sectors. The department also has an offering aimed at private clients.