Skip to main content

Clifford Chance

Clifford Chance
Alis Pay

Alis Pay


Alis Pay

Alis Pay advises on all aspects of commercial real estate transactions including direct and indirect investment acquisitions and disposals. Alis specialises in advising international investors on cross-border portfolio transactions including guiding new entrants into the European real estate market.

Alis' experience also extends to the hotel sector where she has advised investors and financiers on high value and trophy hotel assets.

She has extensive experience in advising on real estate financings and restructurings. She also leads the real estate input for Clifford Chance's market leading energy practice.

  • China Investment Corporation (CIC) on its winning bid to acquire Logicor, the pan-European logistics company, from funds managed by Blackstone. This is the largest logistics property deal in history, largest European real estate transaction of 2017 and the second largest European real estate transaction ever. Logicor owns and operates a portfolio of over 600 warehouses and logistics assets (together with a management platform) across 17 European jurisdictions covering a total of over 146 million sq ft
  • Blackstone on its acquisition of NEC Group
  • A large US REIT on the acquisition and financing of a EUR€1.1 billion pan European portfolio of office properties, and the acquisition and financing of a EUR€465 million pan European portfolio of mixed use properties
  • RBS on the insolvency sale of two offices on Manchester's Spinningfields Estate. The offices were acquired by M&G Real Estate from joint administrators for in excess of GBP£314 million

News and client work

View all news and client work featuring Alis Pay

Contact details

Career and qualifications

  • Admitted as a solicitor in England & Wales 1995
  • Joined Clifford Chance 1993
  • Seconded to Clifford Chance Sao Paulo between 2002-2006
  • Partner since 2014

Professional bodies

  • Member of the Investment Property Forum

Awards and citations

  • Ranked as a Notable Practitioner for Real estate acquisitions by IFLR1000
  • ‘Alis Pay is the absolute stand-out. Very smart and commercial, one of best if not the best lawyer I have ever worked with.’
    Legal 500 2021
  • Alis Pay is an extraordinary lawyer both in skills in client service. She is an excellent negotiator on behalf of her clients whilst always keeping her eye on getting the transaction done.
    Legal 500 2021
  • Identified as a Leading Individual by Legal 500 UK for Commercial Property: Investment 2021
  • Identified as a Next Generation Partner by Legal 500 UK for Hospitality and Leisure 2021
  • Identified as a Next Generation Partner by Legal 500 UK for Commercial Property: hotels & leisure in 2020
  • “Alis Pay is a standout name in the hotels and leisure team which is well regarded for acquisition development financing and M&A-related transactions along with operating and related agreements.”
    Legal 500 UK 2020
  • Recommended by Legal 500 UK 2019
  • "Alis Pay (‘an exceptionally talented and versatile lawyer’) helped lead a large cross-border team that advised acquisition vehicles established by China Investment Corporation on the €12.3bn acquisition of Logicor, which was the largest logistics property deal to date, and the second largest European real estate transaction ever."
    Legal 500 UK 2019
  • "Both Alis Pay and Jane Cheong Tung Sing are singled out for their ‘expert, detailed knowledge’, particularly in relation to hotel and leisure facility financings."
    Legal 500 UK 2017