A notable feature of the real estate industry in recent years has been the increasingly complex nature of the structures used to own, develop and fund real estate.
Recent developments have only served to reinforce the need to understand how these might best be deployed in a hugely challenging market.
In the investment markets, you need advisers who understand the different tools and techniques required to balance risk and reward and to maximise tradability. Linklaters' real estate and leisure sector specialists do understand them - in some cases we invented them - so we can help our clients to create value, share risk, enhance returns and mitigate tax costs using an ever-widening range of innovative and complex structures. We are also unique in being able to draw on market leading, cross border teams in all of the various disciplines required: banking, mergers and acquisitions, real estate corporate finance, tax, funds, securitisation, derivatives, litigation and asset finance, as well as environment, construction, planning/zoning and other real estate-specific expertise.
Businesses of all kinds need operational space which is held on the right terms and at the right cost, is well-located and well-run, appropriately equipped and environmentally sustainable. Linklaters is at the forefront of the market in terms of the traditional real estate specialisms required here.
Our capabilities in the leisure sector include hotel acquisitions and disposals, acquisition financing, bilateral and syndicated credit facilities, hotel management agreements including sale and leaseback or sale and ‘manage-back’, construction and development, the establishment of REITs, real estate finance and property litigation.
To discuss legal issues with Linklaters’ global real estate team, please contact sector leaders William Buckley, Steve Smith, Mark Burgess-Smith or Markus Wollenhaupt.
You can find out more about Linklaters’ real estate and leisure capabilities from sector manager Katherine Neil on (44 20) 7456 5533.
Significant recent real estate transactions include advising:
- Triuva on the sale of two pan-European real estate portfolios; 30 properties across six jurisdictions and 39 properties in nine jurisdictions
CBRE Global Investors on the setting up and subsequent investment of their European Shopping Center Fund II and Pan-European Core Fund
AustralianSuper on its two separate investments into the Kings Cross Central redevelopment
Brookfield on its £4bn hostile takeover of Songbird Estates, the holding company of the Canary Wharf group
Cerberus on the acquisition of the £13bn Northern Rock loan portfolio. The largest-ever financial asset sale by a government in Europe
M&G on its €128m mezzanine financing for ARC Capital for the purpose of partially refinancing a portfolio of European properties and for future acquisitions
Beacon Capital Partners on the financing and subsequent sale of SCI Tour First; owner of the Tour First office tower. Tour First is the tallest building in France
Schroder REIM, acting on behalf of a joint venture between two European institutional investors, on the acquisition of all the shares in Bastion Tower 1 SA and Bastion Tower 2 SA, owning together the landmark Bastion Tower in Brussels
Intu on its investments in shopping centres throughout Spain, including “Puerto Venecia” one of the biggest shopping centres in Europe with a value of €451m