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CMS_LawTax_Negative_28-100.ep Cutting-edge Real Estate Real Estate & Construction 2020
Real Estate 2020
Real Estate +
Andreas Otto
Partner
Globalisation, political turbulence, changes in We are one of the few law firms that can As a firm with a top-tier international tech
T +49 30 20360 1505 urban living patterns, increased digitisation, shifting support you across the full life cycle of practice, acting for innovators such as
M +49 177 2192925 an asset: from financing, acquisition and Microsoft and Google, we have a cutting-
E andreas.otto@cms-hs.com consumer behaviour and flexible working are just development, its construction, through edge understanding of the synergies –
some of the issues that are transforming the demands asset management and optimisation, and problems – that arise at the intersection
to eventual sale. But our expertise goes far of property and new technology.
Arnout Scholten
on the built environment. beyond the traditional boundaries of
Partner
real estate law. And our top tier energy practice enables us
T +31 20 3016 472
M +31 6 21 297 466
Across Asia in particular, unprecedented urbanisation continues to fuel to advise on the real estate aspects of
E arnout.scholten@cms-dsb.com growth, although its diverse demographics and markets mean this plays out Our outstanding lawyers are experts in projects to develop a more sustainable world
in a variety of ways at a more local level. areas ranging from fund formation and including wind farms, solar farms, electrical
management to environmental regulation, interconnectors, battery storage, and energy
In Europe, the commercial real estate market continues to evolve and to from construction disputes to tax planning. from waste schemes.
Marie Scott
Partner attract significant international investment. Most recently, we have seen We can help protect your brand and
T +44 20 7524 6783 South Korean investors building large portfolios of office building investments, reputation just as much as we can help you
M +44 7825 420570 attracted by cheap financing, high yields and currency hedging premiums. manage a joint venture agreement or
E marie.scott@cms-cmno.com employment issues.
Globally, the nature of metropolitan areas is changing as new generations
choose to live differently and global life expectancies increase. We see a rise
in shared working spaces and co-living; a stellar increase in the logistics sector
thanks to e-commerce (as well as difficulties for retailers – and landlords –
who depend on physical stores for their business); and a focus on ensuring
the digital landscape supports the 24/7 demands of modern living.
Global vision
As the world focuses on climate change and sustainability, the real estate
All good real estate lawyers understand their fund distribution or international portfolio
sector is also giving environmental, social and governance (ESG) criteria
local markets. But many clients need a global management, we have people with the right
serious consideration when planning new developments. But there are a
perspective too – of the kind that CMS, as knowledge and experience for you.
number of difficulties in this area, including a lack of agreed standards and
one of the world’s largest law firms, can offer.
reporting requirements. Regulators globally are working to create new ESG
Whether your concern is a cross-border
requirements, but these will differ across countries and present challenges
transaction or international arbitration, global
to those companies operating internationally.
If you would like to discuss any of these issues, or anything else, we would
be delighted to have a conversation with you.
Building the future
CMS is ahead of the curve on legal and Urbanisation, climate change, demographic
regulatory issues. Our partners play prominent developments and new technology are just
roles in professional real estate bodies, setting some of the factors that are shaping the
standards and developing regulatory global real estate & construction market. We
frameworks. But we engage with bigger can help you understand and assess these
questions too. trends: anticipating change, protecting key
assets and ensuring that your business is fit
for the future.
2 | Cutting-edge Real Estate 3
Case studies
The smartest building in the world: Creating a new mixed-use
The Edge in Amsterdam neighbourhood and regenerating
a community
The Edge Amsterdam-West is a large office building CMS was awarded Real Estate Team of the Year
under construction in Amsterdam. The office 2018 by The Lawyer for its work at Circle Square,
complex uses smart technology to create adaptable Manchester. Mark Dawson Executive Director/
and intelligent work spaces that use significantly General Counsel of Select Property
Group (Holdings) Limited
less electricity than comparable buildings. It has been CMS advised Select Property Group (Holdings) Limited (“Select”), “Vita
Student” (Select’s Student Accommodation brand) and “Affinity Living”
labeled ‘the smartest building in the world’ by (one of Select’s PRS/BtR brands) in joint venture with Bruntwood on all
the media given it’s green credentials and use of aspects of the GBP 750m, 2.4m2 mixed use development at Circle Square, A cross-departmental
Manchester, UK which comprises 600+ PRS/BtR units, circa 500+ student team at CMS delivered
technology. accommodation units, Grade A offices, multi-storey car park, new retail a particularly complex
space, hotels and extensive new public realm and infrastructure
improvements. transaction against a
CMS advised Korean investor Hana Alternative Asset Management (HAAM) on
tight deadline fostering
the EUR 250m acquisition and development of Edge-Amsterdam West. A full
CMS created bespoke solutions that included: excellent relations with
service team combined its sector and technical experts to deliver a one-stop-
shop for all their legal needs. This included: every stakeholder. The
The creation of a bespoke The delivery of performance to close
estate/development Circle Square-wide and advice received was
property law financing structure. infrastructure and
public realm works.
first class
planinng and zoning insurance Accommodating the public Accommodating the
sector requirements/ requirements of a club
constraints of Greater of institutional funders in
acting as notary for Manchester Pension Venture the largest regional funding
intellectual property law
completion Fund (GMPVF) in of a private rented sector
a development/funding development, in what is
development/ JV with Select Property Group still considered to be a
lease law as a private sector entity.
construction law new/emerging market.
energy law
The creation of a bespoke Specialist advice re tax,
tax-efficient structure for funding, development
both the Bruntwood joint management and post-
venture and the GMPVF development operations
joint venture. management at the
completed private rented
sector development.
4 | Cutting-edge Real Estate 5
CMS Real Estate in numbers Our track record
Leveraging Buildings of the
#1 Real Estate: #1 Real Estate: international experts future
Europe Europe
The Lawyer Global 50 The Lawyer Global 200 Abraaj Group Public Authority for Housing Welfare, Kuwait
The procurement and construction of 20 hospitals The USD 4bn South Saad Al Abdullah Smart City in
2018 & 2019 Report 2018 across India, Pakistan, Kenya, Ethiopia and Nigeria. Kuwait.
Phases 2 and 3 will construct hospitals across South East
Asia and Latin America Omagine LLC
On all aspects of the USD 2.9bn Omagine Project for the
Energy & Infrastructure Team of the Year Amundi Immobilier
The disposal of the Sirocco office portfolio, with assets
development of 245 acres of prime beachfront land. It
will consist of 2,000 residential houses and ancillary
Legal Business Awards 2017 in Germany, Finland, Austria and The Netherlands infrastructure, a marina, two 3* hotels, one 4* hotel,
one 5* hotel and cultural exhibition centre.
Allianz RE and VGP I
800+ 200+
The EUR 173m acquisition of 19 logistics halls in Google
Germany, Czech Republic and Hungary. A landmark new HQ in London – Google’s first design
and build project in the world.
real estate lawyers globally construction lawyers globally
Large-scale and high Mixed-use
value investments developments
THE L ARGEST REAL ESTATE TEAM IN EUROPE
Commerz Real Spanish Engineering Company
Acquisition of the “Millennium Portfolio” of Generali On the construction of the “Mall of Europe” in
24
Lebensversicherung AG, the biggest single real estate Brussels, comprising 590 housing units, 3,500m² of
transaction Germany in the past 10 years. The portfolio offices, a retirement home, a 112,000 m² leisure area,
Band 1 rankings across real estate comprises 26 office, 14 residential and nine retail 30 restaurants and retail.
& construction sector categories in properties across 10 German cities.
Mayfield PPP
Legal 500 and Chambers globally LaSalle Investment Management and Bouwinvest
SGD 705m acquisition of the REC Solar Panel Plant in
Sole legal adviser on all construction aspect of a £1bn+
ten year redevelopment of over 20 acres of brownfield
Tuas, Singapore – the largest industrial transaction in land in Manchester, UK. It includes 1,300+ new homes,
Singapore in recent years. 800,000 ft² office space, a 350 bedroom hotel, retail and
leisure space and a new city park.
Deka Immobilien
ACT FOR OVER HALF OF THE TOP 100 REAL ESTATE INVESTORS The EUR 460m acquisition of a Czech logistics portfolio Opalia
from the CTP Group – the biggest transaction on the On the project management contract for the construction
Czech real estate market in 2018. of a new stadium in Nîmes, France, together with a
82,000 m² mixed use development project.
6 | Cutting-edge Real Estate 7
Working better, faster Bringing you the future
The Real Estate sector is changing rapidly, and so are As well as sharing our insights and experience with individual clients,
we. Our clients benefit from bespoke CMS-developed we publish a range of material on real estate developments and trends.
tech as well as industry-standard AI. Here are just a
few examples of how we use technology to deliver
for clients. In-depth analysis Implications of English construction
law for international contractors
Delivering cost and time savings via AI Every year we produce original real An annual review of key
estate analysis, leveraging in-depth CMS_LawTax_Negative_28-100.eps developments of English
Due diligence, data and contract analysis can be time-consuming and complex. interviews and polling. Our 2019 report, construction law and their
We use AI tools to review large swathes of information quickly and cost- Urban Being, examines the impact of impact for those using English
effectively. The software enables us to cluster, compare, analyse and visualise changing patterns of city living. In 2018
Annual Review of
English Construction law internationally.
data from multiple sources and search thousands of documents accurately. It we addressed the drivers behind the
Law Developments
An international perspective
delivers time and cost savings every time. boom in logistics property. July 2019
Increasing efficiency and reducing costs
of disputes
Assessing deals Guide to contract alliancing
Construction disputes, like construction projects, often involve large volumes
of documentation. The CMS e-disclosure team, CMS Evidence, provides the
in construction
latest e-disclosure tools to review, analyse and organise documents in a The annual CMS European Real This guide captures the key
cost-effective manner. It means that CMS can scope, budget and manage Estate Deal Point study evaluates CMS_LawTax_Negative_28-100.eps aspects of this form of contracting
the entire disclosure process from start to finish. more than 1,500 real estate agreements and to present the current take-up
from 14 countries. Guide to Contract
Alliancing in of alliancing around the world.
In a recent dispute, we reduced a set of 6,000+ potentially relevant documents Construction
to a set of 600 key documents, saving several days of manual review and
thousands of pounds for our client. We also used CMS Evidence to collect December 2019
and manage 3 million+ documents for a large international arbitration.
Speeding up document generation
Online insights Partnering with industry leaders
CMS has created suites of template documents for transactional use,
dramatically increasing the speed of contract production and passing on
The CMS Real Deal Podcast – downloadable CMS has partnered with the Investment Property
time and cost savings to our clients.
from your podcast provider – provides up to date Forum (IPF) and many of our clients to examine how
insight into the latest issues affecting the sector the liquidity of real estate transactions could be
Increasing efficiency through self-serve contracts through discussions with industry experts. improved. Together, we published a guide ‘Streamlining
transactions’ to drive industry best practice.
Using bespoke technology, we have created the CMS Contract Automation Thousands of subscribers to our Real Estate
Portal. The cloud-based system allows clients to generate draft documents by eAlerts (available at cms-lawnow.com) also receive
completing a simple questionnaire. Clients who use the portal have been able real-time updates on market news, legislative
to improve the quality, consistency and speed of delivery for their documents. changes and significant cases.
8 | Cutting-edge Real Estate 9
CMS
The Americas Europe
Staff Lawyers Partners Bogotá
Lima
Mexico City
Aberdeen
Amsterdam
Antwerp
Edinburgh
Frankfurt
Funchal
Lyon
Madrid
Manchester
Sarajevo
Seville
Sheffield
> 8,000 > 4,800 > 1,100
Rio de Janeiro Barcelona Geneva Milan Skopje
Santiago de Chile Belgrade Glasgow Monaco Sofia
Berlin Hamburg Moscow Strasbourg
Bratislava Istanbul Munich Stuttgart
Bristol Kyiv Paris Tirana
Brussels Leipzig Podgorica Utrecht
Bucharest Lisbon Poznan Vienna
Budapest Ljubljana Prague Warsaw
Cologne London Reading Zagreb
49 NEW PARTNERS IN 2019, TAKING THE TOTAL TO OVER 1,100 Duesseldorf Luxembourg Rome Zurich
Operating in Across
EUR
70 43
countries
1.36bn
cities
turnover for 2018
19 PRACTICE AND SECTOR GROUPS WORKING ACROSS OFFICES
#1 CEE, DACH, Germany
Ranked
(Mergermarket)
#1 Germany, UK
5th (Thomson Reuters)
largest
Algiers
Top rankings in 2018
Casablanca
Johannesburg Beijing
law firm
Luanda Dubai Hong Kong
M & A League Tables Mombasa
Nairobi
Muscat
Riyadh
Shanghai
Singapore
(by deal count)
(by headcount) in the 2018 Africa Middle East Asia-Pacific
Am Law Global 100 #1 Europe, Germany, UK
(Bloomberg)
10 | Cutting-edge Real Estate 11
Your free online legal information service.
A subscription service for legal articles
on a variety of topics delivered by email.
cms-lawnow.com
© CMS Legal Services EEIG (January 2020) – 1912-0116981-4
CMS Legal Services EEIG (CMS EEIG) is a European Economic Interest Grouping that coordinates an
organisation of independent law firms. CMS EEIG provides no client services. Such services are solely
provided by CMS EEIG’s member firms in their respective jurisdictions. CMS EEIG and each of its
member firms are separate and legally distinct entities, and no such entity has any authority to bind
any other. CMS EEIG and each member firm are liable only for their own acts or omissions and not
those of each other. The brand name “CMS” and the term “firm” are used to refer to some or all
of the member firms or their offices.
CMS locations:
Aberdeen, Algiers, Amsterdam, Antwerp, Barcelona, Beijing, Belgrade, Berlin, Bogotá, Bratislava, Bristol,
Brussels, Bucharest, Budapest, Casablanca, Cologne, Dubai, Duesseldorf, Edinburgh, Frankfurt, Funchal,
Geneva, Glasgow, Hamburg, Hong Kong, Istanbul, Johannesburg, Kyiv, Leipzig, Lima, Lisbon, Ljubljana,
London, Luanda, Luxembourg, Lyon, Madrid, Manchester, Mexico City, Milan, Mombasa, Monaco, Moscow,
Munich, Muscat, Nairobi, Paris, Podgorica, Poznan, Prague, Reading, Rio de Janeiro, Riyadh, Rome,
Santiago de Chile, Sarajevo, Seville, Shanghai, Sheffield, Singapore, Skopje, Sofia, Strasbourg, Stuttgart,
Tirana, Utrecht, Vienna, Warsaw, Zagreb and Zurich.
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