Real estate and construction in Spain

Clifford Chance

Clifford Chance acts for top clients and household names in the Spanish real estate market. The team is advising BBVA on the sale of 80% of its Spanish real estate business to Cerberus, valued at €5bn. Key name and Barcelona real estate lead, Blanca Ochoa, advised Unibail-Rodamco-Westfield on the €159m acquisition of several retail units. Carlos Portocarrero heads the practice. Senior associate María Pradillo frequently works with Unibail-Rodamco-Westfield and Aracorp. Conchita Sáinz and Angel Vizcaíno are also names to note.


Jointly led by Felipe Yannone and Oscar de SantiagoGarrigues' practice handles premium real estate deals in Spain. de Santiago and Juan Jose Berdullas are advising Blackstone on its €30bn acquisition of real estate assets from Banco Popular. Héctor MuñozJorge García-Pellicer and senior associate  Estefanía Iceta are also noted.


Pérez-Llorca advises domestic and international banks and real estate investment trusts. The team assisted Banco Sabadell with a package of non-residential asset transactions valued at €246.5m. Luis Zurera, Gerard Serra and Vicente Estebaranz lead the team. Fausto Romero-Miura, Javier Muñoz  and Alejandro Osma are other key names.

Uría Menéndez

The ‘strong’ team at Uría Menéndez stands out for its ‘excellent knowledge and experience level’. Team co-head Fernando Azofra is leading advice to Metrovacesa Suelo y Promoción on the €1bn purchase of 179 land plots comprising 3,500 land registry units. Fellow co-head Diego Armero is assisting Goldman Sachs with the sale to Axa, through a share deal, of 1,000 residential units. Barcelona-based Ignacio Albiñana is also noted.

Ashurst LLP

Ashurst LLP fields ‘a highly specialised and experienced team’. Ismael Fernández advised Invesco on the acquisition of Mango's headquarters in Barcelona on a sale-and-leaseback basis, valued at €100m. Cristina Calvo leads the team. Senior associate Charo de los Mozos joined Herbert Smith Freehills LLP in November 2018. Rafael Fuentes Mareca, formerly a counsel with the firm, joined Acciona Inmobiliaria in October 2017.


Cuatrecasas is a popular choice for REIT and international investment funds. Practice head Ramón Gil advised Bain Capital on acquiring all of Promociones Habitat from its shareholders and purchasing a real estate portfolio from Liberbank. Other names to note are Joaquín Garaulet, José Luis Rodríguez and Francisco José Martínez Maroto.

Freshfields Bruckhaus Deringer

Freshfields Bruckhaus Deringer’s team focuses on transactional real estate mandates. Practice head Fernando Soto led advice to UPS Spain on its sub-lease of a logistics warehouse, office and car park development in Barcelona. Armando Albarrán assisted Cinven with the planning and real estate aspects of the acquisition of a majority stake in target company, Planasa. Senior associate Ana Julia García is also noted.

Gómez-Acebo & Pombo

Gómez-Acebo & Pombo’s team was bolstered by the addition of five lawyers from King & Wood Mallesons in February 2018, including Enrique Isla and of counsel Marta Orce. The team is advising Ares Management on a joint venture with a local manager to acquire residential buildings in Madrid over a two-year period.


Linklaters advises on the spectrum of real estate work for domestic and global clients. It recently advised Tristan Capital Partners on the €146m sale of Altadena Invest. Managing associate Gabriel Cabello is noted.

Allen & Overy

At Allen & Overy, the team is 'prepared and professional'. Juan Hormaechea and counsel and practice head Santiago de Vicente advised Morgan Stanley and Deutsche Bank on the €7.3m financing for the acquisition, via a joint venture formed by Banco Santander and Blackstone, of the NPLs and real estate business of Banco Popular.

Baker McKenzie

Baker McKenzie’s team is praised for its ‘high level of knowledge’ and ‘pro-active approach’ to client matters. Jorge Adell is advising TA Associates on its €16m acquisition of property owned by The English School of Asturias. Guillermo Rodrigo is assisting three of Spain’s largest banks, Banco Santander, BBVA and Banco Popular, with their sale of a portfolio of land to Metrovacesa for €1.3bn. Adell and Rodrigo lead the team. Xavier Junquera is also recommended.


Dentons’ team advised Barings on the acquisition of 100% of the shares of Berceo Retail Complex, a company managed by CBRE Global Investors, valued at €105m. Property financing expert Jesús Varela is the key name. Itxaso López was promoted to counsel in March 2018.

DLA Piper

In recent work, the team at DLA Piper LLP handled the sale of the hypermarket premises of Valle Real Shopping Centre, a €15m sale by ING Sucursal en España. Other clients include Cerberus and Aermont. Orson Alcocer leads the team and José María Oliva is another key name.

Eversheds Sutherland Nicea

Eversheds Sutherland Nicea recently advised on the sale of a retail park to a real estate investment trust. Javier Ibáñez Gabernet and Rafael Arráez Amselem are the names to note.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP’s team advises on real estate financing for numerous international investment fund clients. Team head Tomás Díaz advised Brookfield Asset Management in Europe and Asia on the acquisition of Westinghouse Electric Company, valued at €4.6bn. Juan Cortezo Nieto joined as a senior associate in November 2017 from Linklaters. Javier Gomez, formerly an of counsel with the firm, joined Excem Real Estate in January 2018.

Hogan Lovells International LLP

Hogan Lovells International LLP’s 'highly skilled' team recently assisted retail real estate company Sonae Sierra with its joint venture with AXA Real Estate Investment Managers for the acquisition of the Area Sur shopping centre. Emilio Gómez leads the team and counsel Carlos Bardavío is also noted.

Ramón y Cajal Abogados

Ramón y Cajal Abogados has expertise across acquisition, financing, and due diligence matters in the real estate space. The team advised e-shelter on the development of a data centre in Las Rozas. Roberto Tojo and Francisco Bengoetxea are the practice heads.

Andersen Tax & Legal

Andersen Tax & Legal's team was bolstered by the arrival of Antonio Ñudi and Carlos Peña from Urbe Asesores Jurídicos in February 2018. The duo are heading the team alongside José Vicente MoroteMaite Hernandez, who provides 'an excellent level of service', joined from Herbert Smith Freehills LLP in 2017.

Bird & Bird

Highlights for the team at Bird & Bird team included advising the Pontegadea Group on the acquisition of 9.99% of Telxius Telecom valued at €378.8m. Isidro Del Moral and counsel Jacobo Sánchez-Andrade are the practice heads.

CMS Albiñana y Suárez de Lezo

At CMS Albiñana y Suárez de Lezo, practice head Álvaro Otero led advice to CBRE Global Investors on its acquisition from Avignon Capital of a mixed-use office and retail building at Calle Fontanella.

Jones Day

Jones Day recently advised CBRE Global Investment Partners on its formation of a joint venture with Montepino to acquire and develop a portfolio of prime assets in Madrid, Zaragoza and Guadalajara. Victor Cosarrubios and Luis Jiménez-Diaz are noted.

King & Wood Mallesons

At King & Wood Mallesons, highlights included assisting McDonald’s with the construction, lease or acquisition of over 25 new restaurants. Practice head José Antonio Calleja and senior associate Candela Escribano were new arrivals from KPMG Abogados in May 2018.


RCD advises a variety of private equity sponsors and real estate firms on acquisitions as well as handling real estate investment trust structuring work. Adolf Rousaud and Iñigo Montesino-Espartero are the practice heads.

Araoz & Rueda

Practice head Jesús Conde and associate Gema del Río are the key names to note at Araoz & Rueda. Clients include Kefren Capital and Spotify Spain.


Cases&Lacambra is assisting Hong Kong family office, Fiscalter Inversiones, with its purchase of a residential development in Barcelona, valued at €150m; co-managing partner Ernesto Lacambra is leading the advice. Daniel Tienda heads the team.

EY Abogados

EY Abogados’ group has 'exceptional' knowledge of the real estate market. handles due diligence exercises for various real estate funds and real estate investment trusts. Iván Azinovic, who is 'created and committed' and is 'very respected in the market', and Ignacio Sáenz de Santa María, who is 'a good team player and problem solver', are the practice heads.

GTA Villamagna Abogados

GTA Villamagna Abogados advises on planning matters for clients including Oaktree Capital Management. Group head Ernesto García-Trevijano and Marta Plaza are the key names.


The team at ONTIER focuses on legal advisory matters and the planning aspects of large real estate transactions and projects. Jaime Diaz de Bustamante is the name to note; he works closely with Auchan Group on all of its real estate matters.

Roca Junyent

At Roca Junyent, Sabadell Real Estate Development is a key client, while the practice also acts for private individuals. Xavier Serramalera Cercós is the team head.

Simmons & Simmons

Simmons & Simmons’s team is led by Alfonso Fernández-Puebla Muñiz . Supervising associate  David Gomez is also noted. The team is advising Redevco Iberian Ventures, a joint venture between Redevco and real estate funds managed by Ares Management, valued at €250m, on acquiring an area of the Parque Corredor Shopping Centre in Madrid.

Squire Patton Boggs

Squire Patton Boggs’ team provides 'a very professional service'. The group assisted the Royal Bank of Scotland with the restructuring of a portfolio of 200 mortgages loans with collaterals in several Spanish locations. Ramon Castilla is the key name.

Ventura Garcés & López-Ibor

At Ventura Garcés & López-Ibor, Madrid-based Carlos Trénor Löwenstein and Ricard Gené in Barcelona are the key names. Recent work includes representing three companies in several administrative proceedings against the Balearic government valued at €100m.

Watson Farley & Williams LLP

At Watson Farley & Williams LLP, Pablo San Gil is well known for acting for clients in the financial services industry. The team advised CaixaBank on two multimillion-euro real estate credit facilities for a joint venture between Valfondo Inmuebles  and a CBRE Global Investors subsidiary.

DA Lawyers

At DA Lawyers, César Morales and Eduardo González act for mid-sized and multinational corporations.

Osborne Clarke

Julian Matos is the name to note at Osborne Clarke. Clients include real estate developers, industrial companies, retailers, digital platforms and middle-market investors.

Serrano Alberca & Conde

Serrano Alberca & Conde specialises in real estate disputes before the administrative authorities. José Manuel Serrano is a key name.