Real Estate & Construction

Musat & Asociatii is an acknowledged leading firm in the Real Estate & Construction practice, having advised an impressive portfolio of clients, including developers, retailers, investors, financial institutions and funds. In a resurgent real estate market, we have been advising on major deals and continue to undertake a very high level of transactional work, which places our team in the “leading” tier position on the market. Our legal services are based on an excellent understanding of our clients’ needs and business and the highly-professional and result-oriented attitude of our lawyers has brought professional recognition from experienced and prestigious legal guides and publications.

We continue to have a dynamic presence in the real estate market, while our Real Estate & Construction team has a high reputation and profile in providing a full range of legal services and assistance for national and international clients, including on the acquisition of land, forestry land, construction and maintenance, permitting aspects, residential, office and commercial projects, as well as mixed-use scheme developments and asset management work. Clients benefit from our significant experience in orchestrating complex, long-term projects that involve drafting documentation, facilitating negotiations, navigating legal and regulatory issues.
Our team has successfully managed to create a prosperous conjunction of the Real Estate & Construction practice with other areas of practice, such as corporate and commercial, infrastructure, PPP, taxation. We also pride ourselves with our knowledge of international and internal financial mechanisms linked to real estate transactions, as well as security title ramifications related to property.
  • GRUPO LAR, a leading Spanish real estate developer, in connection with various real estate developments in Bucharest and Cluj, with an investment value of over EUR 300,000,000, including with respect to pre-closing and post-closing documentation, as well as permitting aspects.
  • Africa Israel Investment in connection with the EUR 78,000,000 acquisition of the remaining quota in AFI Palace Cotroceni, one of the biggest real estate projects in Bucharest, consisting of a shopping mall and five stand-alone office buildings, with an investment value of approx. EUR 300,000,000.
  • LA CAIXA Caja de Ahorros y Pensiones de Barcelona in relation to financing various multimillion real estate acquisition and development projects in Romania, totaling over EUR 200,000,000.
  • ING Real Estate Development in relation to various real estate residential and mixed-use scheme developments in Romania, exceeding EUR 250,000,000, including advice on a variety of partnerships with private and public entities and the concession legal regime.
  • SOGEPROM, a Romanian development company affiliated to Group Société Générale, in connection with the development of a large multi-use real estate project in Bucharest, entered into with BRD - Groupe Société Générale, the second bank in terms of banking assets in Romania. The project includes the headquarters of BRD and seven skyscrapers, the total value of the investment being of over EUR 100,000,000.
  • COLAS, the world leader in the construction and maintenance of infrastructure for transport, urban development and recreational facilities, with regard to renegoting and restructuring two FIDIC agreements concluded with the Romanian National Company for Motorways and National Roads, totaling over EUR 190,000,000. The agreements refer to (i) the rehabilitation of over 75 km of DN1, one of the major national roads, linking Bucharest to the north-west regions; and (ii) design and building contracts for the Suceava ring road.
  • Nova Imobiliare (a Greek owned investment group) with regard to the development of the largest shopping center in Bucharest, the total value of the investment exceeding EUR 300,000,000. Our involvement in the project spans over a broad range of legal issues, including legal advice regarding the partnership agreement with the Bucharest City Hall for rebuilding the area, various development-related contracts, permitting aspects, as well as project financing options.
  • Extensa, a reputed Belgian developer, in connection with the acquisition of participations in two Romanian entities meant to develop two high-profile residential projects in Bucharest and Arad, amounting to EUR 235,000,000.
  • Cora Romania Hypermarche (one of the top Romanian retailers), a member of the Delhaize retail group, in connection with the implementation and development of various retail projects in Romania.
  • A group of UK investors in connection with the acquisition of a 1,200,000 sqm land plot and the (pending) development of the EUR 200,000,000 Sabareni Residential Park, one of the largest residential projects to date in Romania.
  • Flash Consult Invest, a Romanian investment company, part of the French group Euromall, in connection with the development of two shopping centers in Pitesti and Galati, projects with a value of over EUR 160,000,000.
  • Euromall, a chain of shopping centers, in connection with the sale of the two malls located in Pitesti and Galati to Immoeast, in a transaction valued at EUR 150,000,000.
  • Immoeast Corporate Finance in connection with the Jandarmeriei Project for developing a large office and residential project totaling over EUR 130,000,000.
  • PPF Partners, one of the largest funds in Europe, in relation to the acquisition of S.C. Continental S.A. and several other private companies in Romania, amounting to over EUR 100,000,000.
  • Liebrecht & Wood, a major Belgian real estate developer, in connection with the development and sale of various office buildings located in Bucharest, with a value exceeding EUR 100,000,000.
  • A group of E.U. real estate investors, in connection with the sale of a 26,000 sqm land plot in (downtown) Bucharest to GTC Romania, for the development of a EUR 80,000,000 real estate residential and commercial project (Rose Garden).
  • Africa Israel Investment and its Romanian subsidiaries in respect of the approx. EUR 77,500,000 acquisition of 155,000 sqm of land owned by Laromet SA.
  • Rom Canada Group in connection with the development, financing and sale of the EUR 70,000,000 residential project West Park.
  • Grupo Puentes, a Spanish construction company, with respect to the development of four major infrastructure projects (developed in Cluj, Turnu Magurele, Tulcea and Dolj), with a total value of approx. EUR 50,000,000.
  • Tornator, a leading Finnish forest management group, with respect to its acquisitions of various forest lands in Romania, of more than 15,000 ha in various locations all over Romania, in total amount of over EUR 40,000,000.
  • Equest Partners Limited, a UK real estate investment fund, in connection with the acquisition of Moldova Mall (the largest shopping center in Iasi), for a total transaction value of EUR 34,500,000.
  • Generali Immobilien AG and Immoeast (Austria) in connection with the EUR 33,000,000 acquisition of Bucharest Business Center.
  • Equest Partners Limited in relation to the acquisition of Vitantis shopping center in Bucharest, for a total transaction value of EUR 26,500,000.
  • Carmel Residential, a major real estate developer, in connection with the negotiation and conclusion of a EUR 25,000,000 FIDIC-based construction contract with Consola Grup Construct, one of the biggest Romanian contractors, in respect of a residential project in Bucharest.
  • Settler Mina, a Romanian investment company, in connection with the development of a EUR 25,000,000 shopping center in Ramnicu-Valcea.
  • Liebrecht & Wood, a major Belgian real estate developer, in connection with a EUR 20,000,000 real estate project, whereby Meinl European Land Ltd. acquired Militari Shopping Center.
  • Africa Israel Hotels in respect of the EUR 18,000,000 acquisition of four hotels in the center of Bucharest.
  • Atlas Estates Investments B.V., a major real estate developer, in connection with the acquisition of Golden Tulip Hotel.
  • DMA, shareholder of Deva Logistics Center S.R.L, developer of one of the largest logistic centers in the country, for land acquisition matters and the conclusion of title insurance.
  • TNT Romania in connection with an important real estate acquisition and the development of its operational centers near Otopeni airport.
  • Anchor Grup, a leading real estate developer, in relation to various legal matters concerning the operation of Bucharest Mall and Plaza Mall, two of the most important shopping centers in Bucharest.
  • Atrium European Real Estate, a leading company owning, operating and developing shopping centers in Central and Eastern Europe, in real estate issues referring to the dispute between Atrium and the Austrian lender Meinl Bank, as well as various related matters involving its Romanian subsidiary.