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Clifford Chance

  • Real Estate
  • Construction
  • Environment
  • Hospitality
  • Real Estate Development
  • Real Estate Finance
  • Real Estate Funds
  • Real Estate Litigation
  • Real Estate Private Equity & Investment
  • Real Estate Securitisation
  • Real Estate Tax
  • REITs
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Real Estate

Construction

The Clifford Chance Construction Group provides specialist support to clients in the development of procurement strategies and in the analysis and allocation of construction risk. The Group is unique among the leading law firms in its size and specialist focus and is consistently recognized as a market leader.

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The Group is involved in all sectors of the construction industry, including infrastructure, energy, oil and gas and real estate, allowing a seamless sharing of ideas and resources across those sectors. This thought leadership has translated into a wide range of briefings and workshop materials which are updated from time to time.  Please click here for a list of our current titles, and feel free to contact one of the Construction Group partners for more information.

We operate at the leading edge of the technological, policy and legal trends which shape the construction industry. For example, we are deeply involved in renewable and new nuclear energy and in carbon reduction technology, and are constantly developing new contracting concepts and structures to meet the changing needs of our clients.

Our clients include public and private sector developers, funders, contractors, end-users and service and technology providers. While acting for one participant in the construction process, we can therefore understand the perspective of the others.

We operate globally and can make available specialist teams on demand in any location. Our network of offices and relationship law firms enables us to blend our specialist skills with the legal and business cultures of the project's location. Our global reach also enables us to bring a market-wide commercial perspective to each individual transaction.

We work frequently as part of a team of specialists drawn from across the firm's industry and practice groups and understand how the construction element fits into the wider context of a complex transaction. We maintain especially close links with the firm's Arbitration, Energy & resources, PPP/PFI, and Real Estate groups.

Real Estate

Environment

A specialised group of lawyers from across our broad international network focusing on environmental aspects of our clients' businesses.

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Our long established Environment Group is committed to assisting you with the challenges posed by ever stricter national, European and international environmental regulation. The team brings real expertise, technical understanding and entrepreneurial thinking to this complex and rapidly changing area of law.

Formed in 1988, our team of lawyers has built up a wealth of experience in all aspects of environmental work.

We have access to decision makers in industry and government at local, national and international level and in supra-national organisations such as the EU. We also work regularly with highly regarded international environmental consultants.

Our long established Environment Group is committed to assisting you with the challenges posed by ever stricter national, European and international environmental regulation. The team brings real expertise, technical understanding and entrepreneurial thinking to this complex and rapidly changing area of law.

Formed in 1988, our team of lawyers has built up a wealth of experience in all aspects of environmental work.

We have access to decision makers in industry and government at local, national and international level and in supra-national organisations such as the EU. We also work regularly with highly regarded international environmental consultants.

We have recently prepared a series of guides to environmental law and practice in 10 major jurisdictions. To access these guides, please click on this link.

Real Estate

Hospitality

Whether you are a lender, developer, investor, owner or occupier, our global Hospitality Group can advise you on all legal requirements related to the sector.

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Bringing together industry knowledge and technical expertise from across our global network, our partners take a commercial approach to help your business and investments work for you,  wherever they are located.

With extensive experience in all aspects of the Hospitality sector, we can assist you with:

  • Management contracts, operating leases and franchising
  • Acquisitions and disposals
  • Restructurings
  • Financing
  • Joint Ventures
  • Sale and lease-backs/manage-backs
  • Fractional ownership
  • Development and construction
  • Planning and environment
  • Litigation and disputes
  • Intellectual property
  • Tax
  • Employment

We provide practical and forward-thinking legal advice, always tailored to your requirements.

Real Estate

Real Estate Development

Wide-ranging market leading development expertise including innovative funding structures and joint ventures.

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Our team has been involved in some of the market's most significant development transactions advising leading developers, funders and occupiers on all types of projects.

Our experience has given us cutting-edge expertise in tax efficient structuring and sophisticated financing techniques. Our approach is to lead and deliver all aspects of development deals from within the real estate practice giving you one point of contact with responsibility for delivery.

  • Planning and Urban Development
  • Construction
  • Environment
  • Real Estate Tax
  • PFI/PPP

Our Planning, Environmental and Construction specialists are an integral part of our development practice. They have extensive expertise in advising on some of the market's largest and most complex development projects as well as private finance initiatives.

Real Estate

Real Estate Finance

A uniquely structured team who specialise in real estate finance advising borrowers, lenders, lead managers and issuers on domestic and cross-border real estate financings, refinancings and restructurings.

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Sophisticated international financing techniques have become a dynamic factor in real estate markets in recent years. Our team of pre-eminent real estate finance specialists has helped a wide range of clients towards their business goals through our new and innovative financing structures.

Our dedicated real estate finance team comprises market leading individuals with a broad experience and a unique blend of specialist know-how. Our real estate finance practitioners have an in-depth understanding of the commercial real estate sector and financing products in that market (e.g. bi-lateral loans, syndicated loans, sub-participated debt, mezzanine loans, development finance, CMBS/RMBS and other capital markets products). Advising lenders, borrowers and investors means that we have an excellent overview of the aims and needs of different participants. We have also recently helped some of our lending clients to improve their loan origination policies and documentation based on lessons we have learnt through recent market conditions.

Our clients include European and US investment, commercial and mortgage banks, non-bank debt providers, funds, real estate investors and developers and corporates.

We can advise you on all aspects of debt and equity participation in real estate-related transactions in domestic and international markets.

For large-scale, multidisciplinary transactions we offer what market commentators acknowledge to be an unmatched capacity to lead the deal, combining real estate, corporate, finance, capital markets, tax, restructuring, and dispute resolution know how.

We advise on:

  • mortgage loan originations in all European jurisdictions
  • sale and leasebacks and opco/propco structures
  • sales, purchases and financings of commercial mortgages portfolios
  • A/B intercreditor structures
  • mezzanine and profit participation structures
  • development financings
  • CMBS warehouse/bridge facilities
  • residential mortgage backed securitisations, commercial mortgage backed securitisations and real estate warehouse business securitisation
  • pan-European and cross border real estate financings 

Real Estate

Real Estate Funds

Advising on the complete life cycle of a real estate fund from structuring and establishment, fund investments through to exit strategies.

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Our Real Estate Funds Practice offers you the full range of skills and services required at all stages of the real estate funds life cycle. We have the fund formation, corporate, real estate, regulatory and tax expertise to advise you on establishing funds, structuring them tax-efficiently, and devising exit strategies.

We apply our in-depth knowledge of both domestic and international markets to keep you up-to-date with market terms and investor negotiation strategies and techniques. Using our real estate funds database we can help you to compile fund term surveys and determine market comparables on key fund terms.

Specialists in our offices across the Clifford Chance network are experts in fund raising and their local real estate markets; they will work with you to plan and manage your real estate fund raising effectively, from a commercial, tax and marketing position.

  • Our London and New York offices are recognised as leaders in advising on the establishment, marketing and operation of international real estate funds. Nigel Hatfield (London) and Roger Singer (New York) are recognised by clients and peers as leaders in the field of real estate fund raising.
  • Our Luxembourg office has extensive experience in setting up real estate funds, including establishing holding structures, obtaining the appropriate rulings and repatriating proceeds free of Luxembourg tax.
  • In Germany, we have structured a number of open and closed funds under the "Deckungsstockfähigkeit" (ruling investments of funds investing under German law).

As for private equity funds, the leading European industry publications and legal services guides rank us as the best.

Real Estate

Real Estate Litigation

Clifford Chance's experienced real estate litigators advise on all dispute avoidance and resolution matters focusing exclusively on the real estate industry.

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Our real estate litigation unit offers you practical and innovative dispute avoidance and resolution services based on a close working knowledge of the sector.

Working from within the real estate practice, our specialist litigators understand your commercial objectives and are skilled at identifying and resolving issues at an early stage. 

We focus on complex litigation and advisory work for a diverse range of clients, including developers, owners, property institutions, financial institutions, hoteliers, retailers, manufacturers and insolvency practitioners.

Our advice during the negotiating and documenting of transactions helps you to avoid or minimise the disruption and cost of any subsequent dispute. We offer risk analysis and assessment in conjunction with our transactional colleagues, so that risks can be identified and minimised at an early stage.

The range of matters we deal with include:

  • Alienation/alterations disputes relating to application for landlord's licence
  • Rent review: issues of interpretation, strategy, obtaining review evidence, preparation of submissions and handling oral hearings
  • Lease termination: forfeiture, break notices and notices to quit
  • Repairs: interim and terminal schedules
  • Services: enforcement of landlord's obligations to provide services and disputes as to service charge recovery
  • Security of tenure: dealing with strategy and proceedings in relation to contested and non-contested renewals
  • Insolvency: liquidation, administration and receivership of landlords, tenants and sub-tenants
  • Tenant disturbance: breach of quiet enjoyment/ nuisance
  • Professional negligence: including claims against solicitors, valuers and agents

Clients make extensive use of our advocacy capabilities within our unit. We also have a CEDR accredited mediator within the unit who takes appointments and advises clients on alternative dispute resolution.

Real Estate

Real Estate Private Equity & Investment

Our property lawyers specialise and are experienced in the legal issues and commercial challenges involved in dealing with private equity structures, joint ventures, limited partnerships, unit trusts, REITs and other co-investment arrangements.

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Whether the underlying real estate transaction is an income producing investment, a portfolio acquisition, a mortgage portfolio transaction, a workout, a development project, a sale and leaseback or a trading transaction, the appropriate structure can be tailored to suit your deal – taking into account local market and currency issues, transfer tax, accounting treatment and risk allocation.

Our real estate lawyers are experienced in advising on the full life-cycle of corporate real estate structures, from the initial choice of structure, tax optimisation, creation of the vehicle, funding, the acquisition and asset or project management through to exit strategy.

Real Estate

Real Estate Securitisation

Innovative advice from specialists in domestic and cross-border real estate securitisations

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As the real estate sector increasingly looks to the capital markets to raise long-term finance, Clifford Chance is playing a leading role in facilitating the trend towards residential mortgage backed securities (RMBS), commercial mortgage backed securities (CMBS) and real estate whole business securities (WBS).

Our specialists can advise you on all types of mortgage-backed securitisations, offering market-leading expertise in capital markets combined with practical, day-to-day real estate experience.

Our International Securitisation Group is recognised as the pre-eminent global securitisation practice. The group includes partners with a strong real estate background so you can be confident we have the commercial awareness and local market knowledge to match our first-rate expertise.

Real Estate

Real Estate Tax

Comprehensive advice on deal structures from recognised experts in real estate tax.

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In today's real estate market, the increasing emphasis on innovative structuring makes tax issues a key component of all types of real estate transactions. In response to this trend, we have built up one of the largest international real estate tax groups in the industry.

We are experts in tax complex deal structures and can provide you with comprehensive advice on real estate taxation.

We can advise you on a broad range of direct and indirect taxation issues, including establishing funds, joint ventures, real estate securitisation structures, limited partnerships, unit trusts and special purpose vehicles.

Our advice covers recommendations across all major jurisdictions offering the optimal and most practical structure for each proposed transaction.

You can be confident that we will highlight or investigate all your VAT and tax options, including those concerning financing, acquisition, development, leasing and sale of properties.

Real Estate

REITs

Delivering commercial solutions in the REIT market for REITs, financial institutions and investment Banks.

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Clifford Chance's Global REIT Group is an integrated network of experts across the globe that advise on complex transactions involving real estate investment funds. The Group has a breadth of experience in acting for all types of participants (including REITs, investment banks, financial institutions and shareholders) in different jurisdictions which allows it to pre-empt issues and deliver commercial solutions. The Group's global coverage means it can transfer experiences from one jurisdiction to another resulting in it being at the cutting edge of market developments.

Global REITs capability and contacts Global REITs Annual Review 2009 Introduction to REITs in China REITs taxation in France: relaxation of tax rules

Our team of experts offer "full service" advice including advice on:

  • REIT formation
  • registration
  • secondary securities offerings
  • mergers and acquisitions
  • strategic investments in real estate trusts
  • portfolio transactions
  • day-to-day operations
  • debt financings
  • private equity
  • tax

Real Estate Tax

Clifford Chance's deeply experienced global REITs practice is in a league of its own with coverage across Europe, Asia and the US.

The Group advise on a wide range of transactions and also have key ongoing roles in shaping the law in relation to REITs. It remains at the forefront of the REIT market through:

  • A global REIT group that is backed by a world-renowned commercial real estate practice with in-depth knowledge of local real estate markets
  • A dedicated REIT team with cross disciplinary skills (including tax, corporate and finance) covering a number of jurisdictions
  • Experts that have been involved in the development of REIT legislation and practice
  • A strong presence in the North American market being described as the law firm of choice for US REIT issuers and underwriters
  • Long established REIT expertise across Asia, having been involved in the regions' landmark REIT transactions

Acting for the real estate industry's leading players, we advise on the full range of real estate-related transactions.

With an integrated network of leading individuals, we have the commitment, resources and know-how to get your deals done, whatever and wherever they are.

Forward thinking and commercial in our approach, with a recognised ability to deliver complex deals, we handle the entire property 'life-cycle' from the initial acquisition, development, leasing, joint venturing and financing through to the final exit.

Our scale, geographical reach and seamless, coordinated approach means that we can support any real estate project. Click on the links below to learn more about the areas our multi-disciplinary team can assist you with: