Real Estate Tax

We are recognised for delivering advice that is both technically rigorous and commercially grounded. We advise on all aspects of tax structuring for real estate funds, investments and developments, both in the UK and internationally. Our clients include fund managers, institutional investors, real estate investment trusts (REITs) and property developers.

Much of our work involves cross-border transactions, complex investment structures and joint ventures. By working collaboratively with our experts in Real Estate, Corporate, Finance, and Private Funds and Investment Management we deliver coordinated advice that reflects each client’s commercial and operational goals.

We provide strategic advice on matters including:

• structuring, establishing and operating real estate funds (both closed and open-ended);
• UK REIT regime and international real estate investor structuring;
• tax aspects of high-value real estate equity investments, financings and joint ventures;
• structuring and restructuring of property management businesses and investment platforms; and
• tax strategy for acquisitions, co-investments, exits and portfolio realignments.

We also help clients respond to the fast-moving regulatory landscape and develop strategies which address the resulting tax, reputational and operational risk – with a particular focus on private capital-backed and multi-jurisdictional structures.

Work highlights including advising:

• Realstar on the acquisition and financing of One Exchange Square, a 603-unit build-to-rent scheme in Birmingham;
• Stanhope on its £700m Oxford North joint venture with Cadillac Fairview and Thomas White Oxford;
• Apache Capital Partners on a £610m joint venture with KKR and a £302m project funding partnership with Harrison Street and NFU Mutual;
• Brydell Partners on the close of its third fund at £267m;
• Patron Capital on various acquisitions, sales and joint ventures; and
• Legal & General on its portfolio transactions, platform structuring and build-to-rent funding.