Real Estate

A leading real estate investment and development practice

We support clients with their most complex real estate matters. In a constantly changing market, we advise across all sectors of the industry on investments and disposals, multi-jurisdictional portfolios, development and regeneration projects, planning and construction, structuring, asset management, financing and dispute resolution.

We deliver strategic advice to institutional investors, private equity sponsors, corporates, entrepreneurs and family offices on high-profile transactions across both traditional and alternative sectors, in the UK and around the world. 

Our approach is distinctive. We combine top-tier real estate legal experience with market-leading M&A, Tax, Funds and Finance practices. This enables us to offer:

  • Development deal expertise: we are recognised for our work on complex mixed-use schemes, as well as standalone residential and commercial projects. The scale and quality of the projects we advise on sets us apart.
  • Integrated transactional support: our Private Capital Real Estate specialists frequently lead M&A and joint venture transactions, enabling us to advise across the full investment lifecycle with a tailored, long-term approach.
  • Market-driven leasing advice: we work on both landlord and tenant side, across office, logistics, hospitality and retail lettings, including navigating ESG considerations shaping investment and occupational decision-making.

We offer in-depth sector knowledge across the market, with a particular focus on operational real estate, including living, logistics, life sciences and hospitality. We also support investors in accessing emerging opportunities through sophisticated structures such as programmatic joint ventures, forward funding arrangements and portfolio reconfigurations. 

Work highlights include advising:

  • SMBL Developments Limited, a company wholly owned by Mitsui Fudosan UK. Ltd, on a groundbreaking £1.1bn new development of the British Library’s St Pancras site with Stanhope;
  • Legal & General on its acquisition and forward funding of a BTR site in Manchester in its joint venture with Nest and PGGM;
  • Supermarket Income REIT Plc, on its strategic joint venture with funds managed by Blue Owl Capital, a leading US alternative asset manager, seeded with eight supermarkets from its existing portfolio, with an aggregate value in excess of £400m;
  • Realstar on the development and sale of a £750m portfolio of eight BTR and student accommodation properties, and subsequent sale to QuadReal Property Group. We also advised on joint venture arrangements with QuadReal;
  • Hillwood on its significant disposal of a US and pan-European industrial and logistics portfolio to CBRE Investment Management for c.$4.5bn;
  • Kennedy Wilson on the acquisition of the Heathrow Estate, a 300,000 sq ft industrial property in West London; 
  • University of Oxford on a project to create a new £750m centre for mental health and brain sciences in Oxford; and
  • Hayfin on its acquisition of notable office building 70 St Mary Axe from Nuveen Real Estate.

How we can help

Macfarlanes deliver top-tier legal services with a highly personalised, partner-led approach. We always receive consistent, tailored advice from lawyers who take the time to explain the situation.

Chambers UK 2026

They are hugely experienced in residential investment and development, including both forward funding and forward commitment structures. Their attention to detail is impressive, and they bring a commercial, hardworking mindset to every transaction. They are a pleasure to work with, and the team is deep, diverse, and well-connected to wider real estate industry specialists.

The UK Legal 500 2026

Macfarlanes is technically strong, and relationships are well handled. They show good awareness of commercial issues in a wide range of settings.

Chambers UK 2025

Insights and news

Fully operational: the future of real assets

Discover how operational real estate (OPRE) is reshaping the investment landscape.

Our latest report explores the growing link between property performance and operational success, drawing on expert insight and original research to highlight emerging sectors, maturing asset classes and new opportunities in this rapidly evolving market.