Real Estate

Real Estate

The real estate sector is benefiting from economic growth, due to an upward trend in domestic demand and growing global trade. The number of transactions is increasing, ranging from the transformation of existing real estate to more new build developments. Building-related sustainability requirements, changes in designation, dwindling retailer numbers, and vacant offices all necessitate smart solutions. Houthoff’s experienced Real Estate Team comprises over 50 real estate specialists who look beyond the problem. They have the extensive knowledge and experience required to anticipate the changing demand in the sector. Our civil-law notaries play a pivotal role in this. Our Real Estate Team is involved in the largest and most high-profile Dutch and European real estate transactions. Houthoff assists investors, project developers, financial institutions, construction companies, housing corporations and end users with complex real estate transactions and disputes.

  • recommendation people shaking hands
    Interviewees admire the team's innovative approach. One source adds: "They put forward strategies and creative solutions in moments where the deal seemed to be heading nowhere."
    Chambers Europe, Real Estate (2018 Edition)
  • recommendation people shaking hands
    Clients praise the lawyers for their "very good knowledge and negotiation skills."
    Chambers Europe, Real Estate (2018 Edition)
  • recommendation people shaking hands
    Recommended
    Legal 500, Real estate (2018 Edition)
  • recommendation people shaking hands
    First Tier firm.
    Chambers Europe, Real Estate (2017 Edition)
  • recommendation people shaking hands
    "Their level of quality is very high and they have a big real estate team."
     
    Chambers Europe, Real Estate (2017 Edition)
  • recommendation people shaking hands
    Clients praise the team's constructive approach to negotiations, highlighting how it "seeks the common ground and balance between the parties, avoiding confrontation if possible," but is prepared to take an assertive stance when necessary.
     
    Chambers Europe, Real Estate (2017 Edition)
  • recommendation people shaking hands
    First Tier firm.
    Legal 500, Real estate (2017 Edition)
  • recommendation people shaking hands
    First Tier firm.
     
    Chambers Europe, Real Estate (2016 Edition)
  • recommendation people shaking hands
    "I think the firm is excellent. The lawyers we work with there are outstanding."
     
    Chambers Europe, Real Estate (2016 Edition)

Our expertise on real estate

Efficient legal support is a prerequisite for the sale, purchase, development and redevelopment of large real estate projects. Parties engage our Real Estate Team for advice on complex real estate structures, which our civil-law notaries and lawyers provide practical and innovative solutions for. Complex real estate financing requires legal and tax expertise and a comprehensive knowledge of the national and international real estate market. Our real estate specialists advise financial institutions, real estate funds and investors on refinancing, restructuring, complex real estate auctions and distressed loan portfolios. With the rise of smart cities, we also advise and assist national and international parties investing in sustainable capital, technological communication and smart infrastructure to realise these urban developments.

We combine our extensive sector knowledge with our knowledge of areas such as purchase and sales transactions, tenancy law, leasing, procurement, environmental law, project development, administrative law and real estate financing. Our dedicated Real Estate Team helps players in the national and international real estate sector succeed.

  • Houthoff, jointly with Linklaters LLP, advised the Public Investment Fund (PIF), which, together with Credit Agricole Assurances, Colonoy Northstar, Amundi and others, is acquiring a majority stake in AccorInvest. AccorHotels is selling a 55% stake in AccorInvest for an amount of EUR 4.4 billion. Houthoff advised the Public Investment Fund (PIF) on the Dutch part of the acquisition.

  • Houthoff advised TH Real Estate on the acquisition and financing of a modern logistics complex in Rotterdam (Maasvlakte II). This is the second acquisition for TH Real Estate's European Logistics Fund. The vendor, which is also the occupier of the property, is selling the property in a sale and long-term leaseback transaction. The property comprises two buildings, dating from 2008 and 2016. It has a total lettable area of 39,500 square metres, most of which is laid out for the storage of hazardous goods. 
  • Together with the VMRG, the branch organization for facades, Houthoff has developed the very first lease-based agreement whereby the facade of a building remains the property of the facade builders after delivery by way of a right of ground lease. A right of ground lease has not been used in such a way before. This means a breakthrough in the circular facade economy.

  • Houthoff, jointly with Kirkland & Ellis LLP, assisted Global Logistic Properties in the acquisition of the European logistics business IDI Gazeley. Global Logistic Properties, a Singapore-listed investor, acquired IDI Gazeley from Brookfield Asset Management, the world's second-largest real estate fund manager. The transaction value amounts to approx USD 2,8 billion.

    The Dutch real estate consisted of 15 logistics warehouses. Our works were focussed on the due diligence research of the Dutch real estate and the Dutch corporate and financing aspects. 

    The Houthoff team was led by Herman Lohman. 


  • Houthoff advised Hannover Leasing on the acquisition of the property 'The Cloud' in Amsterdam by means of a share deal. The transfer took place on 15 December 2017. The building was redeveloped recently and is leased to Uber, Amazon, Spaces and @Leisure. 
  • Houthoff recently advised on the acquisition of the shares in the IEF portfolio by a consortium led by CBRE Global Investors (three institutional investors from the Netherlands, plus CBRE Dutch Retail Fund). IEF is a joint venture formed by Bouwfonds Investment Management and IEF Capital. The portfolio consists of 31 Dutch retail properties (mostly flagship stores), including the well-known Dutch retail chains HEMA and de Bijenkorf. The deal was valued at more than one billion euros. As well as overseeing the share purchase, Houthoff was also hired to advise on the financial arrangements by the banks financing the deal: ING, ABN AMRO and BerlinHyp. In all, Houthoff had a team of more than 50 staff working on the deal.

  • Advising and representing Jaarbeurs regarding the development of the largest cinema in the Netherlands at the Jaarbeurs complex in Utrecht.
  • Advised Unibail-Rodamco, the world's third-largest real estate investment company with a listing on Euronext Stock Exchange, on the sale of a real estate portfolio consisting of six office buildings located in the Netherlands with a total rental space of circa 59.000 m2 to Valad Europe.
  • Advised US based private equity firm TwentyTwo Real Estate on the indirect acquisition and the restructuring of a real estate portfolio consisting of approximately 7,600 dwellings in France that are rented to Electricité de France (EDF). The portfolio value amounts close to EUR 1 bln.
  • Houthoff advised DELA Vastgoed B.V. regarding the sale of the 'Solit Portfolio' to Lone Star. The Solit Portfolio consists of 73 stores, 4 shopping centres, approx 15,000 m2 of office space, 2 parking garages and 90 residential spaces. The transfer took place on 1 September 2017. The transaction vallue amounts to approx EUR 215 million.
  • Park 20|20 is a Cradle to Cradle-inspired office park in Hoofddorp that is being developed for VolkerWessels and Reggeborgh by the Delta Development Group.
    Houthoff advised Park 20|20 on the turnkey sale of the NOW office building in Hoofddorp to Standard Life Investments. On completion, the office building was leased to Swiss RE, Macaw and Sony. The purchase price for the NOW building was approximately EUR 22 million. SLI was advised by Loyens & Loeff.
  • Houthoff advised CAPREIT on the purchase and funding of a large housing portfolio. Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has purchased nineteen residential complexes from Aventicum for a price of EUR 170.4 million. The portfolio that the company has acquired comprises 128 single-family houses, 721 apartments and 2 commercial properties. This brings CAPREIT's total portfolio to 1,417 houses. The Canadian investor intends to further expand its Dutch portfolio. CAPREIT has purchased the portfolio with its joint venture partner Rubens Capital Partners. Rubens has taken a minority interest in the portfolio and will assist CAPREIT as the asset manager of the entire Dutch real estate portfolio. The seller, Aventicum, is a joint venture of Credit Suisse and Qatar Holding.
  • Advising and representing Unibail-Rodamco regarding the development of a large shopping mall Leidsenhage (municipality of Leidschendam-Voorburg) and the redevelopment of the Zoetermeer City Centre.
  • Advising G&S Vastgoed, the leading developer of the "Zuidas"-area in Amsterdam, regarding the new development plan "Ravel", which includes a mixed area of 10 acres at the Zuidas with houses, (sports) facilities, offices and retail.
  • Advising a consortium of owners of the former NDSM-Wharf – VolkerWessels, Reggeborgh Group, Biesterbos Group – on planning and contracting issues regarding the redevelopment of this vast area in the Amsterdam-North Harbour.
  • Advising Commerz Real, the owner of the Amsterdam 'Twin Towers', the tenants of which are the Stibbe law firm and Akzo Nobel. Part of the estate is a large parking lot, partially built under Highway A10 ('the Zuidas'). The Dutch Government ("Rijkswaterstaat") needs to purchase this part of the building, in order to be able to proceed with a key project in national policy "Zuidasdok", an integrated project consisting of offices, a railway station, housing and (underground) infrastructure (railway and highway). Houthoff advises Commerz Real on the purchase agreement or expropriation. Houthoff has started litigation against the Zuidasdok zoning plan.
  • Advised Eljans Vastgoed, a partnership of one of the largest private investors in retail in the Netherlands, on the sale of a retail portfolio consisting of 85 retail units spread over the Netherlands, for a consideration of EUR 109 million, to an investment fund of Och-Ziff Capital Management Group.
  • Wereldhave acquires 9 shopping centers in the Netherlands. Houthoff advised Wereldhave, a Dutch listed real estate investment company with commercial property of around EUR 3.3 billion, on the EUR 730 million acquisition of 9 shopping centers in the Netherlands from its French competitor Klépierre. The shopping centres were part of Corio's portfolio and were recently taken over by Klépierre. Wereldhave is financing the deal by issuing up to 5.25 million new shares. In addition, existing credit facilities will be evaluated. The transaction is expected to close before the end of 2015.
  • Advised on the sale of a large international real estate portfolio by IVG Frankfurt encompassing 19 real estate objects in the Netherlands.
  • Houthoff advised a consortium consisting of, amongst others, Biesterbos, Reggeborgh and Het Fort on the EUR 76,25 million sale of a large Amsterdam based office building with an office space of 32.000 m² and 438 parking spots, to Israeli based investment company Zabar Group Investments and Menora Mivtachim. The building is currently leased to HEMA (headquarters), VNU and Multisafe Pay.

Publications

Jan Kees Kuiken

Key Contact

Rotterdam
Notaris | Partner
+31 10 217 25 48
+31 6 5182 9976
Herman Lohman

Key Contact

Amsterdam
Notaris | Partner
+31 20 605 61 20
+31 6 2293 4252
Marnix Aarts

Key Contact

Amsterdam
Notaris | Partner
+31 20 605 65 67
+31 6 5375 9049
Aart Barkey Wolf

Key Contact

Amsterdam
Notaris | Partner
+31 20 605 61 03
+31 6 5365 4223
Lucas Louwerier

Key Contact

Rotterdam
Kandidaat-notaris | Partner
+31 10 217 29 46
+31 6 1424 7421