Europe brochure (369KB) - DLA Piper REALWORLD

eal estate in
europe
www.dlapiper.com | 01

one team
no borders
Whatever part real estate plays in your strategy,
DLA Piper lawyers can work with you to design
commercial and innovative legal solutions that deliver
real value.
We operate as a single team throughout Europe,
cutting across borders and simplifying real estate
projects. Our lawyers are working with a single
purpose – ensuring you get the right result at
all stages of the investment and development
cycles. Our services are delivered by accomplished
specialists with international experience based in the
countries where you need them. That means you
benefit from both in-depth local market expertise
and a global perspective.
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We are at home acting for both regional clients
on local matters and clients on complex cross
border deals. Every job is treated with the same
professionalism, skill and determination. And because
we work across a diverse range of sectors, we have a
rounded view of the market that adds more insight to
the advice we give you.
CLIENTS
Private and public companies
Real estate investors
Asset managers
Developers
Financial institutions
Each of our lawyers is committed to the DLA Piper
philosophy of ‘everything matters’ so that you receive
a consistently high standard of personal service and
quality advice, wherever you use us. We believe that
the experience you have in Birmingham should be the
same as the one you receive in Budapest.
This is a genuine one-stop-shop for real estate. Every
real estate skill is available, from funds and finance to
tax and construction. In short, we are one team with
no borders providing a real advantage to you.
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STRUCTURING REAL ESTATE
INVESTMENTS
We can help you maximise your
returns on any real estate investment
by creating the most appropriate
structure. Our team includes tax and
funds lawyers who will work with
you to identify the best way forward
– be it for your own account or as an
asset manager for third party money.
This advice is fully integrated with
the transactional aspects of your
real estate investments, creating a
true one-stop-shop solution that few
other law firms can offer.
As well as a thorough understanding
of tax, constitutional and regulatory
concerns, we also offer you detailed
knowledge of investor attitudes
and market behaviours. This has
been developed through years
of working on fund structures
of all shapes and sizes across the
continent, both for promoters and
institutional investors.
Our experience in real estate funds,
REITs and infrastructure funds
(as well as hedge and private equity)
has put us at the forefront of
developments in fund structuring,
promotion, management and
administration. We draft, review and
negotiate all your fund documents
so that they are acceptable to
constitutional investors whilst
remaining protective of the manager’s
position. It is an approach based on
commerciality that saves you time
and money.
Working closely with our colleagues
around the world means our advice
on offshore and foreign structures
is up-to-date and incisive. We
have expertise in the Luxembourg,
Netherlands, Channel Islands and
Caribbean regulatory environments.
Offering you a flexible approach
to structuring, faster regulatory
approval and tax benefits, these are
ideal jurisdictions in which to set up
pan-European investment vehicles.
We also enjoy close relationships
with counsel in the major offshore
centres in which we do not have a
presence ourselves. Wherever you
operate and whatever your business
objectives, we can be there.
You can also benefit from our
experience in corporate wrapper
transactions. Share sale and purchase
agreements are dealt with by lawyers
who understand the fundamentals
of your assets and can add real value
in vital areas such as due diligence
and warranties, indemnities and
completion accounts.
Our aim is always to keep
arrangements simple and consistent
with your goals, whilst ensuring
that key elements, such as funding,
management, exit and dispute
resolution, are properly handled.
INVESTMENT
We handle both direct and indirect
acquisitions and disposals using
corporate structures such as JVs, and
fund structures such as unit trusts and
limited partnerships. These include
portfolios as well as single properties,
freehold and leasehold properties,
and sale and leaseback structures.
Our local teams carry out your legal,
corporate and tax due diligence
with a thorough understanding of
your investment requirements.
They deliver a solution focused
report on all aspects which are
relevant for your investment. We
manage your acquisition process in
the most efficient and diligent way,
communicating clearly, so that you
can feel in full control at each stage of
the acquisition. Everything is designed
to provide you with the best basis for
your decisions as you work through
the investment process.
The emphasis is always on delivering
a commercial, responsive and cost
efficient service.
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Our planning team is one of the largest in the sector and has handled some of the
largest and most prestigious development in United Kingdom of recent years.
FINANCE
Our lawyers have a great track
record of advising major lenders to
the property industry and helping
investors and developers raise
finance. Working with both lenders
and borrowers has given us direct
experience of the techniques and
tools used to achieve success, and
our connections with the financial
institutions involved in real estate
lending will make your transactions
go more smoothly.
We advise on the financing of real
estate through a variety of debt,
equity and hybrid investments to
ensure tax efficiency. You will find
us to be fluent in the legal issues and
regulatory requirements which arise
in structured real estate financings.
If you are a borrower, our one
team approach will guarantee you
a fully integrated service from our
investment and finance teams.
From day one of our involvement,
we will be fully briefed on the
structure of your investment and
will negotiate the best covenants
for your financing to meet your
investment requirements.
TAX
We understand that tax plays
a fundamental role in your real
estate investments, not only when
you invest through corporate
vehicles. This is why our real estate
lawyers work hand-in-hand with
our tax experts during all phases
of an investment and you can be
sure at all times that, whatever
turn the negotiations take, the
tax implications will be carefully
considered and communicated
to you.
Because of our global strength, we
can structure deals at both a local
and international level maintaining
the necessary helicopter view. With
one team by your side, matters
move more quickly and portfolio
management becomes easier.
Integrated tax advice ensures
your investments deliver the best
returns. Our expertise includes VAT,
real estate transfer tax, transfer
pricing, capital allowances and tax
planning for sales, acquisitions and
developments (including the use of
companies and other entities).
DLA Piper’s European team is
part of one of the most highly
ranked and geographically
diverse real estate practices in
the world, helping DLA Piper
clients succeed wherever they
do business.
Chambers
“The enormous size and
scope of this outfit do not
detract from its ability to
“think locally” ... across
Europe.”
“The firm’s combined
strengths in providing
a thorough service on
the ground as well as
the resources of a global
behemoth have won positive
endorsements from clients,
who extol its “consistently
high level of service” and
“excellent efficiency”.”
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PLANNING, ZONING AND
REGENERATION
Our experienced planning team
supports you through all phases
of a development project, from
planning appraisals, applications
and agreements, to enforcement,
appeals, inquiries and challenges.
Acting regularly for both public and
private sector clients, we are familiar
with the range of factors that can
affect your strategy. This enables us
to identify and implement the most
pragmatic and commercial approach
to realising your goals quickly and
efficiently. We understand every
element of the local planning
systems, including complex
applications, compulsory acquisition,
environmental impact assessment
and enforcement.
Working with key stakeholders,
including local governments,
commercial property developers
and specialist funders, we help make
your regeneration a reality. We bring
together all those investing in longterm
benefits and have the specialist
experience to deliver the right
economic and non-economic results.
DEVELOPMENT
From land assembly to exit, our
experts get the right results for
you. Our experience of every
stage in the life of a development
programme gives us insight into
the needs and objectives of a wide
range of stakeholders. You can
enjoy timely completion, financial
return on investment and the
negotiation of robust but acceptable
leasing terms. The goal is the
best outcome for all: a successful,
marketable development.
Our lawyers can deliver the right
contractual arrangements to cater
for your funding needs and the
appropriate risk profile for your
investment or development. The
legal tools we use include forward
purchase agreements, forward
funding structures and made-to-suit
agreements for lease. We operate
closely together with our planning
and construction specialists so that
you always get the best advice.
CONSTRUCTION
We will stand by your side through
every stage of your construction
project. Our team is experienced
in all sectors of the industry and all
manner of procurement methods,
from commercial developments to
major international domestic, civil
and process engineering projects.
Our lawyers advise on all the
standard building contracts, including
traditional, design and build, FIDIC
construction management and
management contracting. We are
just as comfortable with bespoke
contracts and derivatives of the
standard forms. You will be able
to talk to specialists in all areas of
the construction industry, including
risk analysis and risk allocation,
tendering, dispute resolution
and project management. It is a
comprehensive service that covers
everything you need.
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ASSET MANAGEMENT
Asset mangers can enjoy a full
service from DLA Piper, whatever
their sector or strategy. We
advise you on the establishment of
management firms, whether on a
“spin off”, start-up or expansion
basis. We can also provide guidance
on the creation of tax efficient
remuneration arrangements
and comprehensive regulatory and
compliance advice. If you are looking
to develop beyond your home
market, then our global team can be
there by your side.
Property management and active
asset management can add real
value to an investment. We have
the experience to deal efficiently
with all aspects of your property
management in a practical and
proactive way. Backed by our
real estate litigation team, we can
handle all types of property, from
residential and mixed-use properties
to office and retail space.
You will also be able to access advice
on the day-to-day management
of your tenanted property. With
experience of supporting both
landlords and tenants on all aspects
of commercial leases, we have a
360 degree understanding of
property management that enables
you to get the best value from
your portfolios.
REAL ESTATE LITIGATION
Disputes can arise in even the
most carefully managed portfolios.
We deliver incisive advice across a
broad spectrum of topics, including
rent review. By working with you
from the start to assess strengths
and weaknesses, we minimise
uncertainty and create pragmatic,
workable solutions. Where there is
no negotiated solution, we use the
most cost-effective and appropriate
dispute resolution mechanisms to
achieve successful outcomes.
WE TAKE YOUR
SUCCESS PERSONALLY
The DLA Piper real estate team
is designed to meet your needs in
a modern business environment.
A single, coherent unit without
borders, we have the skills, strength
and geography that will help you to
achieve more.
Above all, we have the attitude
that gets things done for you.
Everything matters to us and we
are personally committed to your
success. We think that shines
through in our service.
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About us
From the quality of our legal advice and business insight to the efficiency of our legal teams,
we believe that when it comes to the way we serve and interact with our clients, everything
matters.
DLA Piper is a global law firm with lawyers across Asia-Pacific, Europe, the Middle East
and the United States.
FOR MORE INFORMATION
To learn more about DLA Piper, visit www.dlapiper.com or contact:
Olaf Schmidt
Head of EMEA Real Estate
T +39 02 80 618 504
F +39 02 80 618 201
olaf.schmidt@dlapiper.com
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DLA Piper is a global law firm operating through various separate and distinct legal entities.
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Copyright © 2011 DLA Piper. All rights reserved. | APR11 | 1673685
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