Clifford Chance remains a prominent force in the real estate sector, advising fund managers, SOCIMIs, financial institutions and other major market participants on corporate real estate, joint ventures, portfolio deals, development and construction issues, and structured transactions. Co-head Carlos Portocarrero de las Heras specialises in real estate-related joint ventures, bidding processes, portfolio sales and corporate acquisitions. Fellow co-head Gabriel Cabello, who joined from Linklaters in June 2025, focuses on strategic investments, sale-and-leasebacks, leasing and construction matters. María Pradillo is experienced in real estate transactions, while Andrés Berral advises on acquisitions, disposals, REO portfolios and development joint ventures.
Legal 500 Editorial commentary
Accolades
Client satisfaction: Sector knowledge
Client satisfaction: NPS ®
Testimonials
Collated independently by Legal 500 research team.
- ‘The team is always very available and consistently acts effectively. Regarding billing and budgeting, they generally adhere closely to the agreed terms, avoiding last-minute surprises, which is much appreciated when working on complex matters where complications may arise. They typically have access to other essential departments when needed, and the staff is always highly qualified.’
- ‘For our company, the Clifford Chance real estate and construction team is the only team we trust for our operations, always with very good results and with our total confidence to continue working with them in the future.’
- ‘What sets the Clifford Chance team apart, and partner Gabriel Cabello in particular, is their unwavering availability and total commitment to the client, which inspires confidence during critical moments of a transaction. Gabriel combines in-depth technical knowledge with a precise memory of complexities and commitments from previous deals, providing continuity and security in negotiations. He also excels at handling delicate business situations, always prioritising the success of the deal and seeking pragmatic solutions that balance legal positions with business objectives.’
- ‘What makes Clifford Chance’s lawyers stand out is their ability to see the deal through to completion, effectively coordinating and pressuring all parties involved, including opposing parties, notaries, and external advisers, to ensure the deal closes on time and within budget. Gabriel Cabello leads with sound judgment and composure, combining strategic vision with a constructive approach.’
- ‘What makes this practice unique: outstanding reputation in the Spanish real estate market; extensive experience; and commercially focused problem-solving. The team is highly engaged, exceptionally responsive, and known for its strong commitment to clients. Compared to other firms, Clifford Chance combines technical excellence with commercial understanding, making it a trusted adviser for strategic real estate matters in Spain.’
- ‘One standout individual is Gabriel Cabello, a highly skilled transactional lawyer with whom I’ve collaborated on multiple deals across hospitality, retail, and office. His commercial acumen, practical solutions, understanding of business drivers, and exceptional availability make him a trusted adviser in fast-paced transactional environments.’
- ‘Gabriel Cabello's flexibility and commercial acumen in adapting to the timing and setbacks of a transaction, as well as his ability to manage the team and leverage synergies between the different practices that any real estate transaction requires (especially urban planning, a discipline in which Gabriel particularly excels).’
- ‘The Clifford Chance team undoubtedly stands out as the most professional in the Spanish legal sector. Their contribution goes far beyond traditional legal advice: they become a true strategic partner in every transaction. Their ability to anticipate client needs, identify critical negotiation points, and provide creative and effective solutions makes them an indispensable ally.’
Key clients
- Nido Living (CPPIB)
- Room Mate
- Angelo Gordon TPG
- BentallGreenOak
- Unibail Rodamco Westfield
- Carrefour
- Prologis
- Emin Capital
- Orion
- Airbus
- Blackstone
- Klépierre
- GMP
- Nuveen
- Numa Stays
- Morgan Stanley
- Azora
Work highlights
Advised Nido Living, a European platform specialising in student accommodation, on the acquisition and financing of the Brookfield-owned Livensa Group in a transaction valued at around EUR 1,200 million.
Advised Unibail-Rodamco-Westfield on the sale of the Bonaire shopping centre, located in Valencia, to Castellana Properties, a Spain-based REIT subsidiary of Vukile Property Fund, for the amount of EUR 305 million.
Advised an institutional investor on the creation of a joint venture with a Spanish investment and management company to develop, own and manage student residences in Spain and in the first acquisition by the joint venture, consisting of a portfolio of student residences in Spain.
Lawyers
Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Gabriel Cabello
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Practice head
Carlos Portocarrero de las Heras; Gabriel Cabello
Other key lawyers
María Pradillo; Felipe Font; Andrés Berral