Real estate and construction in Spain

The ‘approachable and available’ Clifford Chance specialises in complex corporate transactions, as well as advising on distressed assets and restructuring matters in the real estate sector. Carlos Portocarrero leads the practice and is known for real estate joint ventures, sales, leaseback transactions, and the acquisition and disposal of portfolios. Also notable in the team are solicitors María Pradillo, whose experience includes real estate joint ventures, corporate acquisitions, financing matters and leaseback transactions, and Angel Vizcaíno, who advises on a range of real estate issues. Blanca Ochoa left in 2019 to co-found investment company WA4STEAM.

The multi-disciplinary team at Garrigues specialises in corporate law, M&A, financial and regulatory work in the real estate area. Acting for international funds and companies, the firm is experienced in restructurings, new investment vehicles, mortgage finance, transfers of distressed assets, non-performing loans (NPL) and real estate owned (REO) portfolios. Felipe Yannone’s expertise includes real estate investment, construction and commercialisation transactions. He co-leads the practice with Óscar de Santiago, who focuses on real estate investment and real estate finance. Also notable is Jorge García-Pellicer, who active in corporate restructurings and shopping centre acquisitions.

Pérez-Llorca covers the spectrum of real estate matters, from development, construction and management to acquisitions, restructuring and repossession. The firm has particular expertise in real estate financing, NPLs, REOs and Spanish REITS (socimis). Luis Zurera co-leads the practice with Gerard Serra, who is an expert in real estate and corporate law, particularly M&A, and Vicente Estebaranz, who specialises in land planning. Also notable in the team is Fausto Romero-Miura, who focuses on real estate, projects, banking and M&A. Jordi Farrés and Javier Muñoz Méndez were promoted to partner in 2019.

The ‘clear-headed, methodical, quick-thinking and solution-driven' Uría Menéndez is regarded as ‘one of the best corporate real estate teams in the legal market, because of its wide knowledge of the law and the commercial aspects of transactions'. The firm specialises in large portfolio transactions, M&A, and advising foreign funds and investors. Fernando Azofra Vegas advises domestic and foreign companies on real estate and banking matters, asset finance and M&A transactions with an underlying real estate component. He co-leads the practice with ‘best in the market’ Diego Armero Montes, who has particular experience in corporate and commercial law. Also notable are asset finance specialist Javier Ruiz-Cámara and Rafael Jiménez, who moved back to Madrid in 2019 from the firm’s office in Santiago de Chile.

Allen & Overy specialises in real estate M&A and finance transactions, as well as the acquisition of distressed loans secured through real estate collateral. Clients include alternative lenders and institutional and fund investors. Santiago de Vicente has particular expertise in corporate real estate, notably joint ventures and restructurings, as well as sale and leaseback arrangements. His team was boosted by the 2019 arrival of senior associate Marta Orce from Gómez-Acebo & Pombo, who has experience advising national and international clients on a range of real estate transactions.

Dentons is regarded as ‘one of the best Spanish law firms for real estate'. The firm specialises in distressed assets, investment, lending and NPL portfolios, as well as providing notable expertise in litigation. Jesús Varela ‘has a wealth of experience and is really commercial’. He co-leads the practice with counsel Itxaso López, who has experience in advising Spanish and international clients on real estate agreements, condominium matters and asset management.

DLA Piper advises investment funds, institutional investors and socimis on real estate transactions, real estate finance and distressed portfolio deals, as well as providing experienced practices in hospitality and logistics. The firm also has expertise in alternative assets, including student residences and senior housing. Orson Alcocer leads the practice and has a particular focus on logistics, hospitality and portfolio sales.

Specialising in multi-jurisdictional deals, Eversheds Sutherland Nicea advises a range of clients, including financial entities, private investors, real estate companies, hotel operators and industrial companies with property portfolios. Javier Ibáñez Gabernet focuses on property acquisitions, hospitality and retail. He co-leads the practice with Rafael Arráez Amselem, who is an expert in sale and leaseback transactions, as well as property investment.

Known for its ‘efficiency, flexibility, communication skills, loyalty and honesty', Gómez-Acebo & Pombo has the capacity to ‘find practical solutions to complex legal matters’. The firm specialises in planning matters, as well as real estate finance, transactions and joint ventures. Enrique Isla leads the team and ‘shows an exceptional combination of a sound business approach and solid legal expertise in his practice’. His expertise includes property transactions, joint ventures, financing, restructuring, corporate real estate and construction. Jaime Díaz de Bustamante was a new arrival in September 2020.

Hogan Lovells International LLP advises real estate investment funds worldwide, as well as hotel and leisure companies, banking entities and retailers. In addition, the firm has expertise in the logistics sector, assisting with the disposal, acquisition and financing of logistics assets. Practice head Emilio Gómez focuses on real estate developments and transactions, particularly in shopping and leisure, as well as specialising in REITs and socimis. Also notable in the team is senior associate Miguel Ferre, who joined from Ashurst LLP in 2019 and brings expertise in acquiring commercial, industrial and residential assets.

Jones Day specialises in transactional and planning work, as well as providing experience in the full life cycle of real estate matters, including due diligence, acquisition, financing, asset management and disposition. Víctor Casarrubios advises funds, socimis and investors from Spain and overseas. He co-leads the team with Luis Jiménez-Díaz Egoscozábal, who focuses on real estate, planning, construction and administrative procedures.

Ramón y Cajal Abogados specialises in advising real estate developers on acquisition, development, construction, sale, leasing and financing. The firm also has experience in due diligence reviews and contract negotiation. Roberto Tojo leads the team and focuses on advising on and co-ordinating real estate transactions related to sale, leaseback, construction and servicing agreements.

The ‘quick, strategic and innovative’ Andersen specialises in commercial advice, with experience in drafting contracts, urban planning and providing advice to property developers and local authorities. The firm’s expertise also includes the acquisition of portfolios of real estate assets, joint ventures, commercial leasing and acquisition finance for socimis. José Vicente Morote focuses on infrastructure, construction and urbanism. He co-leads the practice with Maite Hernandez, who is an expert in real estate and construction law.

Bird & Bird has experience in acquisition and disinvestment transactions, specialising in acting for private clients and family offices. The firm is particularly active in real estate matters related to M&A and development. Isidro Del Moral has expertise in commercial and corporate real estate, urban planning, public law, tax and litigation. He co-leads the team with counsel Jacobo Sánchez-Andrade, who advises local and international clients on the negotiation and drafting of international distribution and agency contracts.

CMS Albiñana y Suárez de Lezo is known for providing transactional advice, particularly in cross-border matters. The firm is also experienced in leasing, asset management, construction and design agreements, notably in the hospitality and leisure sectors. Álvaro Otero specialises in the sale and purchase of real estate companies and real estate assets, as well as sale and leaseback operations.

EY Abogados has expertise in advising socimis, owners of real estate assets and companies on finance and due diligence, as well as being increasingly active in the hotel and leisure sector. Iván Azinovic Gamo handles single-asset transactions, financing and corporate real estate matters. He co-leads the practice with Ignacio Sáenz de Santa María, who focuses on transactional real estate matters. The team was strengthened in 2019 by the arrival of Ana Lopez Muiña from Gómez-Acebo & Pombo, who specialises in planning, as well as being experienced in providing environmental legal advice to public and private entities.

Araoz & Rueda specialises in matters with an urban planning component, particularly in the acquisition and sale of REOs and asset portfolios. The firm has experience advising investors, developers and financiers on a range of real estate matters in Spain and abroad. Practice head Jesús Conde is known for his expertise in the restructuring, negotiation and execution of international real estate transactions, as well as planning and administrative issues.

Cases&Lacambra is known for its 'market knowledge, efficiency and solution-driven approach’, as well as its ‘complete alignment with clients'. The firm focuses on transactional matters, advising foreign investors on acquisitions, sales and urban planning matters. The practice also has expertise in licensing and planning. Daniel Tienda leads the team and specialises in advising institutional investors on real estate transactions in Spain.

Specialising in planning matters, GTA Villamagna Abogados has particular expertise in disputes, urban development and issues related to public law. Ernesto García-Trevijano leads the practice and has experience in construction and real estate planning matters. Notable in his team is Marta Plaza, who advises public authorities and private companies on planning.

ONTIER covers the spectrum of real estate work, particularly real estate finance and transactions. The firm advises socimis, foreign investors and multinational corporations on real estate investment. Jaime Díaz de Bustamante left the firm in 2020.

Roca Junyent covers a range of matters related to construction, promotion and investment. The firm’s experience includes handling legal and tax structures for the purchase, sale, investment and management of real estate projects, as well as due diligence, litigation and planning issues. Practice head Xavier Serramalera Cercós is known for advising national and international clients on the development and acquisition of real estate projects.

Squire Patton Boggs advises on the financing, purchase, sale, construction, development and letting of real estate projects in Spain. The firm also has experience in due diligence, shareholders' agreements and joint ventures. Ramon Castilla leads the practice and has particular expertise in the transactional aspects of the real estate sector, including in industrial areas, shopping centres and retail parks.

Specialising in hotels, office buildings, retail and leisure centres, Ventura Garcés & López-Ibor has experience advising on the acquisition, sale, financing and leasing of a range of developments. In terms of construction expertise, the firm advises on building contracts and subcontracting. Practice head Carlos Trénor has a particular focus on M&A, corporate finance and contractual law. Since publication, the firm has split with the Madrid and Valencia offices now operating as  López-Ibor Abogados and the Barcelona office as Ventura Garcés.

The 'committed' Watson Farley & Williams LLP’s experience ranges from the financing, sale and purchase of real estate to planning, development and sale. The firm also provides expertise in the key related areas of construction, dispute resolution and insolvency. Pablo San Gil leads the practice and specialises in structured finance and asset-based lendings for senior and mezzanine debt.

As well as advising on traditional real estate matters, Latham & Watkins LLP is known for its expertise in multi-disciplinary work, particularly real estate capital markets deals, REO and NPL portfolios, M&A, financing and restructurings. Practice head Rafael Molina joined from Linklaters in 2018 and has experience advising domestic and international investors, investment banks and financial institutions on a range of corporate and real estate investments. His team includes real estate specialist Javier Colino, who joined as an associate from Uría Menéndez in 2018.

Osborne Clarke has a particular focus on residential, student accommodation and retail assets. The practice also has experience working with international clients investing in the Spanish real estate market. Julian Matos leads the team and specialises in the residential sector, notably residential developments and accommodation.