Real estate, hospitality and leisure in Puerto Rico

McConnell Valdés LLC

McConnell Valdés LLC is widely recognised for its advice in real estate matters. The team's multi-disciplinary approach, combining tax, investment and financing, proves very successful in tourism, hotel and resort development mandates. Past highlights include its advice to a client on the development and financing of an upscale mall. With hospitality projects at its core, the offering also includes real estate transactions and significant commercial and residential development projects. The group is led by Jorge Ruiz-Montilla, whose broad practice, rooted in Puerto Rico (where he took part in the drafting of laws and regulations for the tourism industry) also reaches international real estate clients.

Practice head(s):

Jorge Ruiz-Montilla

O'Neill & Borges

A broad-ranging practice covering all types of real estate matters - including those with corporate elements - is offered by O'Neill & Borges in Puerto Rico. The team represents private and public-sector clients, including development companies, investors and financial institutions, in asset-based financing transactions, acquisitions and sales. Walter Alomar-Jiménez focuses on acquisitions of loan portfolios and related due diligence; Alfredo Alvarez-Ibañez is often involved in sales and acquisitions of shopping centres; while Juan Aquino is particularly active in deals involving industrial properties.

Pietrantoni Méndez & Alvarez LLP

The 10-strong real estate team at Pietrantoni Méndez & Alvarez LLP includes four partners who jointly advise on office building, shopping centre and hotel projects, as well as a range of residential, mixed and industrial real estate transactions. Construction, conveyancing and land use are also pillars of the practice, sustained by the combined expertise of Manuel Del Valle  (who primarily represents local developers and companies in the communication and food and beverage industries), Donald Hull (who acts for landlords, tenants and significant national retailers), Antonio Molina-Machargo (who is sought out for matters involving shopping centres and residential communities) and founding member Antonio Santos.

Ferraiuoli LLC

In real estate, Ferraiuoli LLC employs a five-partner team which doubles as a notarial practice and has notable experience in this area. Representing developers, lenders, tenants, investors and management companies, its lawyers advise on projects in the energy and hospitality sectors, as well as financing deals and acquisitions. Eduardo Tamargo Motroni is responsible for the team, working alongside chair of the corporate group Fernando Rovira Rullán. María Fernández-Ginorio is noted for her involvement in public-sector transactions.

Key clients

American Tower Company

Capital Crossing

Ocwen Loan Servicing LLC

Banco Popular de Puerto Rico

Scotiabank de Puerto Rico, Inc.

Royal Isabela Group

Lone Star Funds/Hudson Advisors

Parkland Fuel Corporation

Mesirow Financial

Paulson & Co.

Work highlights

  • Advising the American Tower Company on real estate and permitting issues concerning the negotiation, renegotiation and acquisition of leases of rooftops and raw land in Puerto Rico.
  • Advised Parkland Fuel Corporation on the acquisition of a majority interest in Sol Investments Limited.
  • Assisted Mesirow Financial  in the financing for the development and construction of a US Department of Veterans Affairs clinic in Puerto Rico.
  • Advised on the sale of several real estate properties of Lone Star Funds/Hudson Advisors’ “Other Real Estate” portfolio.

Goldman Antonetti & Córdova

Goldman Antonetti & Córdova houses a four-partner real estate and land use team which distinguishes itself thanks to its significant track record in commercial and residential transactions, leasing, construction, title insurance and real estate financing. Tourism facilities and shopping centres are also covered by the department. Arnaldo Villamil is a longstanding member of the firm and has vast experience in industrial and commercial real estate. Currently, he represents a large number of US-based retailers. Alicia Lamboy-Mombille is an expert in zoning, environmental and construction law.

Estrella LLC

Estrella LLC's real estate practice group is well versed in real estate transactions, executions and court proceedings, and also assists clients with the registration of property deeds and other notarial documents. Practice head Odemaris Chacón Varona is sought out in relation to the sale and leasing of properties in Puerto Rico to foreign companies.

Practice head(s):

Odemaris Chacón Varona

Key clients

Stewart Title Guaranty Company

Fidelity National Title Group

Puma Energy Caribe, LLC

SBA Communications

Work highlights

  • Prepared and executed a lease agreement deed between client Puma Energy Caribe and a property owner of a service station in Arecibo, Puerto Rico.
  • Representing Fidelity National Financial during construction in an urban development where there is a 70-year-old equitable servitude that has been abandoned and needs to be extinguished.

Nolla, Palou & Casellas, LLC

Nolla, Palou & Casellas, LLC's broad offering covers a range of real estate and construction projects; the team represents owners, developers and investors on land use and permitting, leasing and financing, among other areas. Founding member José Nolla-Mayoral is a name to note; he has additional experience advising banks, lenders and brokers on complex issues concerning property taxes.

Practice head(s):

José Nolla-Mayoral

The Vidal, Nieves & Bauzá, LLC

At The Vidal, Nieves & Bauzá, LLC, real estate is handled by recognised attorney Arline Bauzá-Figueroa; social interest housing, sub-performing and non-performing mortgage loan cases, restructurings and workouts are among her areas of specialism. The department's clients include tourism, hospitality and infrastructure companies, as well as private clients.