Operational Real Estate

Operational real estate is a nascent but rapidly developing area of the European real estate market, demanding an evolution in market practice and the skill sets of those working and advising in it.

Our real estate team is adept at advising on the unique legal and tax risks and structuring considerations that operational investments present, having advised on some of the largest transactions of this nature in the market in recent years.

Operational assets provide real estate investors with access to diversified revenue streams beyond traditional rental income, creating an attractive yield profile and potentially also the ability to capture the upside associated with a well-run operating business.

Operational investments may be accessed through a spectrum of different approaches, from at the simplest end of the spectrum, turnover leases, to entry into joint ventures or management agreements with operators, to at the other extreme, taking an ownership stake in the operator itself and creating a “vertically integrated” platform.