Baker McKenzie has once again emerged as leader in the real estate industry, ranking first in the annual Euromoney survey for its global legal services.
Canvassing the opinions of almost 2,500 real estate advisors, developers, investment managers, corporate end-users and banks worldwide, the 2017 Euromoney survey aims to determine the best providers of real estate services over the last year.
As well as being named best law firm globally, Baker McKenzie has retained its number one position in both Asia and Latin America, and jumped four places from 2016 to also top the table in the Middle East and North Africa (MENA) region.
The Firm also won several individual country categories: Thailand, Switzerland, Indonesia, Hong Kong, Belgium, Egypt and Russia.
Testament to hard work
Jose Larroque, Global Chair of the Real Estate Practice Group at Baker McKenzie, said: "We are delighted to have once again been recognised for our services in this sector. It is truly a testament to the hard work and talent of more than 300 of our real estate lawyers who are thoroughly deserving of this recognition.
"This is the ninth year the Firm has topped the poll globally and with the ever changing real estate landscape and economic environment, this achievement highlights the ability of our team to continuously improve and evolve to ensure we meet the needs of our clients right across the world.
"What is especially important about these rankings is that they are the result of feedback from thousands of industry professionals, and so we are proud that our peers, clients and others in the market have identified us as the best at what we do."
Our Real Estate Practice Group has worked on a number of global deals this year, including:
- Advising Link REIT on the sale of 12 properties in Hong Kong for a total consideration of HKD 3.7 billion by way of a public open tender
- Acting for ARA Asset Management on behalf of the purchaser as asset manager. The asset was a newly completed retail and office complex in Shanghai worth approx. USD 2.95 billion which is considered the biggest single-asset property transaction in Asia Pacific for 2016.
- Advising Novaport, a leading Russian transportation and airport operator on the acquisition of Khrabrovo Airport (Kaliningrad) and Kavminvody Airport
- Advising on the acquisition of data center operator Telecity Group plc in a transaction worth $3.8 billion. This involved the multi-jurisdictional real estate due diligence process, which started with the identification of all UK Telecity Group plc data centers, the subsequent review of associated lease documentation, briefing and advising on due diligence approach and the drafting of a comprehensive real estate report for client consumption
"With 77 offices in 47 countries, we have the presence to provide guidance from experts with on-the-ground experience and understanding of the complex local legal issues. But as well as that, having such an extensive, international team also allows us to harness global expertise and work seamlessly across jurisdictions. This, I believe, makes us stand out in the market, and enables us to confidently execute and manage a wide range of real estate transactions and portfolios," added Jose.
"We look forward to the year ahead and, with an additional six partners recently promoted to our Real Estate Group and a growing presence in our offices in Palo Alto, San Francisco, and Toronto in 2017, we are confident that we will continue to build on our success."