Real Estate

 

We have a strong and respected real estate practice that is known for its breadth, sophistication and depth. We work in all of the principal sub-sectors of the real estate sector: retail; hospitality; office buildings; logistics assets; and residential property.

We advise and represent a wide range of actors, mainly developers, private equity fund managers, landowners, equity investors and lenders, but also contractors, consultants, buyers and commercial tenants.

In each of the sub-sectors we have advised on acquisitions and disposals of both isolated assets (notably Nigeria’s largest hotel) and portfolios of assets, and of both strategic minority equity stakes and of controlling interests.

Clients who ordinarily are not real estate sector actors have also engaged us on critical real estate matters. Notable among these are commercial clients acquiring and constructing offices, showrooms, outlets and factories nationwide.

Our real estate group lawyers also work regularly with parties to mergers acquisitions and spin-off transactions in other sectors on occasions where real estate assets happen to be a significant portion of the assets in issue.

We have expertise in structuring transactions to optimize the regulatory, tax, corporate and foreign investment law situations of our clients with a view to minimizing expense, delay and inconvenience.

We have also worked extensively on commercial bank credit transactions to finance acquisitions and construction, and on the refinancing of such transactions.

Among other regulatory work, we are experienced in the subtleties of the perfection of title and collateral, “regularizations” of title, of buying and selling diplomatic mission assets, of re-zoning, of compulsory acquisitions and excisions, of getting “NOTAP” approval, and in getting waivers, exemptions and reductions of tax.

We have negotiated and documented shareholder agreements, joint venture agreements, development leases and other arrangements to develop real estate assets on a collaborative basis.

The standard capital markets dimension to our work has included advising on corporate bonds issued by developers. More exotic transactions have included Nigeria’s pioneering offerings of residential mortgage trust securities and of bonds issued by a State-backed secondary mortgage lender.


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© 2015 G. ELIAS & Co.